Brazil’s National Coffee Council also lowered its 2015 harvest projections to between 38.7 million and 43.6 million bags, down from earlier estimates of 43 million to 44 million bags.
“With the damage that is being done right now, we’re not going to be likely to produce a better crop next year,” Sterling Smith, a futures specialist at Citigroup, said in the article.
iPath Dow Jones-UBS Coffee Total Return Sub-Index ETN
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