NSRGY - Coffee futures sink in biggest downward move since 2010

Arabica and robusta coffee futures are down sharply as fears ease on the impact of an unexpected frost this week in Brazil. Reports indicate the frost may not have impacted as wide of a region as initially feared. "Any losses from today’s event will be very limited,' updates Rabobank International's Carlos Mera. The iPath Series B Bloomberg Coffee Subindex Total Return ETN (NYSEARCA:JO) is down 8.88% to reach its lowest level since July 21 when coffee prices first started shooting higher on earlier frost concerns. Bloomberg reports the drop today in coffee futures is the biggest since August of 2010. Consumer-facing companies typically hedge many of their coffee costs, but could see an impact due to the recent volatility in the market. Related stocks: Coffee Holdings (NASDAQ:JVA), Dunkin' Brands (NASDAQ:DNKN), J.M Smucker (NYSE:SJM), Starbucks (NASDAQ:SBUX), McDonald's (NYSE:MCD), Costa Coffee (NYSE:KO), Tim Hortons (NYSE:QSR), Nestle (OTCPK:NSRGY), Keurig Dr Pepper (NASDAQ:KDP), Kraft Heinz

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Coffee futures sink in biggest downward move since 2010