1045 ET - ICE coffee futures are up another 2%, bringing them to roughly $3.65 a pound. Coffee futures set records this week in reaction to the tariff spat between the U.S. and Colombia. Both sides have since reached an agreement to stave off any tariff war. Even so, higher coffee futures have support from drought conditions seen in growing areas of Brazil -- with Brazilian crop agency Conab lowering its outlook for Brazilian Arabica production by 12% from the previous year, to 34.7 million bags on Tuesday. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
January 29, 2025 10:45 ET (15:45 GMT)
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