Coffee futures headed for a third straight drop on signs of ample supplies, while sugar extended a slide to a 32 month-low.
“There’s too much coffee around,” Sterling Smith, a futures specialist at Citigroup in New York, told Bloomberg. “Inflows into warehouses are also weighing on the market, so the path of least resistance is lower.”
Last month, inventories of unroasted-coffee beans in the United States rose 7.7 per cent...
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