Coffee Tumbles Most in Eight Weeks on Ample Supply; Cotton Drops

By Megan Durisin

(Bloomberg) — Arabica coffee for March delivery tumbles 4.3% to $1.209lb on ICE Futures U.S. in N.Y.

 

* Close at that price would mark biggest drop for most-active  contract since Oct. 16

* “The attitude is there`s plenty of coffee out there,” Jack Scoville, vice president at Price Futures Group in Chicago,  says in telephone interview

* “I don`t think there`s anything too terribly exceptional in  the way of news”

* NOTE: Brazil 2015 Coffee Exports Seen Exceeding 36m Bags

* NOTE: Colombian Coffee Output Rose 19% in November From Year  Earlier

* Expected rain in Brazil`s southern and western Minas Gerais, Sao Paulo and Parana regions in next 10 days will maintain plenty of soil moisture for crop development, MDA Weather Services in Bethesda, Md., said Thursday in report

* Cotton futures for March delivery fall 0.1% to 63.71c/lb

* Prices heads for first weekly drop since Nov. 6

* Orange-juice futures for Jan. delivery climb 1% to $1.5015/lb

* Sugar futures for March delivery rise 0.8% to 14.67c/lb

* Cocoa futures for March delivery fall 1% to $3,314/mt

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