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Coffee & Sugar Rise

September 16, 2009 at 20:42 by Vladimir Vyun

Coffee rises on speculation that yield will decline in Colombia, the third-largest producer in the world. Production in Colombia may slid to around 10 million bags this year, compared to 11.5 million in 2008, because heavy rains delayed harvest. December delivery for Arabica-coffee gained $0.0065 (0.5 percent) to $1.3525 per pound by 9:45 on ICE Futures U.S. in New York.

Sugar prices advanced as a weaker dollar makes commodities more attractive as hedge against inflation and on expectations that global demand will exceed output for a second straight year. The dollar dropped to the lowest in 11 months against a basket of six major currencies, increasing appeal of commodities as alternative investment. March futures for raw-sugar delivery increased $0.0051 (2.2 percent) to $0.2383 per pound as of 10:28 on ICE Futures U.S. in New York.

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