Coffee prices dropped to their lowest level in a year, according to the International Coffee Organization. The Wall Street Journal reports that some investors had predicted a 2014 repeat of higher prices due to Brazil’s drought, but signs of positive weather in Brazil have shifted supply outlook.
Arabica coffee dropped 8.20 cents and is now $1.59 per pound on the ICE Futures U.S. exchange, the lowest close since February 2014.
