Global Coffee Supply Deficit Likely

Global coffee production could fall short of demand next season by the largest amount in almost a decade due to smaller harvests in Brazil, the International Coffee Organization said Thursday. Arabica-coffee futures ended in bull-market territory, following slumping forecasts for Brazil's production, the world's largest coffee grower and the source of one-third of the world's beans. A bull market is when prices gain 20% or more from a recent low. (WSJ)