Coffee futures advanced on Friday, marking the first day of climbs for the soft commodity in six trading sessions amid a report noting farmers in the top-growing nation will receive help from the government, according to Bloomberg.
Coffee gained in the aftermath of a published report noting government of Brazil intends to undertake methods of aiding farmers in the South American nation. Coffee prices have dropped roughly 18 percent thus far this year.
"Measures out of Brazil could give temporary support," agriculture derivatives head Jerome Jourquin with Aurel BGC in Paris told the news source on Friday. "At the end of the day, whatever they do, coffee will have to be exported so they can give subsidies to farmers for example but it does not mean the price on the international free market will continue to go up."
At 11:38 a.m. on Friday, coffee futures rose 1.99 percent, a 0.023-cent lift to $1.179 per pound.
Reuters reports coffee futures previously had been at their four-year trough as concerns were spreading about the quality of the crop in Brazil.
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