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Coffee surges to 7-year highs with more cold headed for Brazil Coffee surges to 7-year highs with . Arabica coffee futures are hitting fresh highs and extending a dramatic rally with more crop-destroying cold temperatures heading to Brazil, the worlds top grower. Prices for the high-end beans favored by Starbucks Corp. and other cafe chains have surged more than 30% in a week, and will eventually top $3 a pound, according to Judy Ganes, a consultant with decades of experience in the industry. The last time prices topped $3 was in 2011. Those sky-high prices are because coffee trees in Brazil were weakened by a drought and then pummeled by two frosts in less than a month. Freezing temperatures last week especially hurt young trees, which will need to be trimmed or replanted. That could affect output for years to come, including slashing next year s harvest by as much as 5.2 million bags, according to an Ecom Research report seen by Bloomberg. A bag weighs 60 kilograms, or 132 poun

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