By Leslie Josephs and Alexandra Wexler The Wall Street Journal October 8, 2012 Brazil's coffee farmers have been hoarding some of their crop, waiting for the right price. But buyers are testing their patience. Coffee has been trickling out of No. 1 supplier Brazil more slowly than usual this year. The Brazilian government estimates that the annual coffee harvest that wrapped up last month is a record, but the South American country's exports are down on the year. The reason: Farmers haven't been happy with prices, which hit two-year lows in June. But big coffee buyers like Folgers-maker J.M. Smucker Co. are in no rush to buy. Global stockpiles of arabica beans, the coveted variety used in gourmet blends, are at their highest level in more than two years. Meanwhile, coffee demand is slowing due to the woes in Europe and more supplies are expected in the coming months. The situation stands in contrast to 2011, when coffee roasters and food companies we...