Poor Farmer

By Emily Flitter Reuters July 2, 2012 NEW YORK, July 2 (Reuters) - A U.S. Securities and Exchange Commission investigation into the accounting practices of Green Mountain Coffee Roasters is casting a spotlight on M. Block & Sons, a little-known consumer products distributor. The 18-month Green Mountain probe marks the third time in a dozen years that securities regulators have looked at the accounting practices of a company that used Chicago-based M. Block to store and help deliver its products to major retailers. One of the previous investigations led the SEC to charge former Sunbeam Corp Chairman Albert Dunlap with overseeing a massive accounting fraud. The other case involved mobile technology accessories maker iGo Corp, whose executives were charged with inappropriately using M. Block's services to record revenues ahead of schedule. Neither M. Block nor any of its employees has been charged with wrongdoing as a result of the three investigations. B...

Anticipated Record Crop From Brazil and Faltering Consumption Pressure Prices By Carolyn Cui The Wall Street Journal July 1, 2012 In the midst of global economic uncertainty, commodities fell broadly in the second quarter on concerns over weak demand. Among them, coffee took a hard hit, with prices off 6.8%, a move that has jolted a commodity long considered recession proof. Coffee has been under pressure on all fronts for months. Prices have been falling all year in anticipation of a record crop from Brazil, the world's biggest coffee grower. Moreover, demand has been sluggish, as roasters held off on buying premium beans, and consumers in some markets reduced coffee drinking. During the second quarter, coffee prices fell 12.35 cents, to $1.701 a pound, on the ICE Futures U.S. exchange. Prices rebounded slightly toward the end of June but still are 44% off from a peak of $3.049 hit in May 2011. Year to date, coffee is down 25%. "Coffee was really h...