Coffee futures jumped 2.4% to $1.95 per pound. Rising commodity futures prices in agricultural contracts are tied to Brazil’s lower production outlook due to persistent drought conditions. December British pound (B6Z25) futures present a selling opportunity on more price weakness. Gorton G, Rouwenhorst K (2004) Facts and fantasies about commodity futures. Financ Anal J 62. https://doi.org/10.2469/faj.v62.n2.4083 Wheat futures dropped 0.7% to $6.19 per bushel, pulling commodity futures prices lower in the grains segment. Traders attribute this to higher-than-expected export volumes from the Black Sea region.
