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Arabica Coffee Posts Biggest Gain Since 2004 on Brazil Drought

Arabica coffee extended its bull-marketadvance, posting the biggest gain in more than nine years, as drought drains dams to a record low in Brazil, the world’s biggest grower and exporter.

Arabica coffee for March delivery jumped 8.6 percent to settle at $1.3595 a pound yesterday on ICE Futures U.S. in New York, the biggest increase since November 2004.