Coffee-bean prices sag By Leslie Josephs The Wall Street Journal March 17, 2013 NEW YORK—Mounting stockpiles of arabica coffee around the world have soured traders' outlook on the commodity, pushing prices down to a 33-month low. Arabica coffee in 60-kilogram (132-pound) sacks stored in exchange-certified warehouses rose to more than 2.74 million bags Friday, up 6.7% from the start of the year. Beans are also accumulating in Brazil, the source of about one-third of the world's coffee. Growers there have been holding back some of their crop, waiting for higher prices. According to Safras & Mercado, a Brazilian consulting firm, farmers there had sold 71% of their 2012 crop by the end of February, down from 87% at the same point last year. "There's too much Brazilian [coffee], too much arabica," said Thiago Cazarini, a coffee broker based in Varginha, Brazil. He estimated prices will drop to $1.30-$1.35 a pound. Arabica coffee f...