Folgers owner J.M Smucker (SJM +0.6%) trades higher as Bloomberg notes dire predictions of a...

|About: J. M. Smucker Company (SJM)|By:, SA News Editor

Folgers owner J.M Smucker (SJM +0.6%) trades higher as Bloomberg notes dire predictions of a 2012 glut for robusta coffee beans. Macquarie predicts robusta prices will fall 9% in 2012, on top of an 8% decline this year, thanks to a combo of weak macro conditions and rising production. However, prices for the arabica beans that Starbucks (SBUX) relies upon are expected to remain strong. (previously)