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Colombia Coffee Production May Jump 18%; Will U.S. Wheat Supplies Exceed Forecast?

October 9, 2009 at 18:17 by Vladimir Vyun

Coffee production in Colombia, the third-largest producer in the world, may jump 18 percent next year as warmer weather helps crops. Output may rise to 11 million bags with recovery from a slump after heavy rainfalls this year. Coffee has climbed 23 percent in New York this year as excess rains have hurt harvests in Colombia and Brazil.

Wheat stockpiles in the U.S. before the next harvest will exceed forecast with declining exports and falling global demand. Forecast for unsold supplies on May 31st is 864 million bushels, 16 percent up from a September forecast of 743 million and up from 657 million this year. December delivery for wheat gained $0.1075 (2.3 percent) to $4.74 per bushel on the Chicago Board of Trade.

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