Coffee bears rewarded as Brazil currency drop sees price slide

New York

COFFEE bears are reaping rewards from a sweeping plunge in emerging-market currencies.

Brazil and Colombia, the world's largest suppliers of arabica coffee, have seen the value of their currencies decline because of stagnating growth and a collapse in oil prices. As exporters increase shipments to customers buying in dollars, prices for the commodity have tumbled to the lowest since January 2014.

Money managers in the US are the most bearish since late July, benefiting from three straight weeks of price declines, the longest slump since March. The Brazilian real and the Colombian peso were …