September coffee futures to 70 cents

Arabica coffee futures for September delivery will begin the new week Monday from 70 cents a pound on New York's Coffee, Sugar & Cocoa Exchange.

A week ago the price had been 66.55, and the week before that, 67.05. Near-term futures had gone as high as 83.25 cents in mid-June.

There is a coffee shortage in Colombia but the new harvest starts this coming week if the weather is good.

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