The price of coffee is skyrocketing on speculation that Colombia's harvest will be smaller than expected.

Coffee for December delivery jumped 6.5 percent Monday to finish at $1.7365 per pound.

Analysts say Brazil's crop was hit by rains earlier in the summer but drier weather has prevailed, leading to expectations for a record crop. But Colombia could harvest its fourth consecutive crop of lower-than-expected production.

Other commodity prices are mostly higher despite fresh signs of China's slowing economic growth. Most traders are awaiting the Federal Reserve's meeting later this week, where they expect additional steps to be approved to help the U.S. economy.

Prices are higher for oil, natural gas, copper and platinum. Gold, silver, wheat, corn and soybeans are lower.