Coffee Moves Away From Two-Week Low

(RTTNews) - Coffee prices were back up on Thursday in U.S. trading after falling to a two-week low earlier in the session. December-dated coffee was at $1.1625 a pound, up 15 cents on the session. Prices had dipped to as low as $1.1540 in mid-day trading, but rallied back above its flat-mark for the session.

Prices have been pushed higher amid concerns that recent dry weather in Brazil, the world's top producer of coffee, could diminish supplies. Coffee had seen weakness in recent days, declining in three of its last four sessions. Prices were knocked lower by recent weakness in the Brazilian real. Coffee is sold in U.S. dollars, meaning exporters may increase shipments since each bag of coffee would be worth more of the Brazilian currency.

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