Threat of drought in Brazil spurs bulls to raise bets on higher coffee prices

Chicago

BRAZIL is getting dry again and the coffee bulls are back. Growing regions are forecast to get about half the normal rainfall this month and in February, according to Celso Oliveira, a meteorologist at Somar Meteorologia in Sao Paulo.

Brazil is the world's biggest grower and exporter, spurring hedge funds to increase their bets on higher prices for the first time in six weeks.