Today the coffee market closed most unchanged at 116.55 up .15 for December.
Brazil is clearly having some problems. The Real continues to fall and its bonds have been down graded. And the future does not look much better.
So producers are encouraged to sell at these prices, because, even if the market stays where it is, the producers will get less per pound if the Real continues its decline.
On a bullish perspective, if you look at a daily candlestick chart, generally when there is a spinning top like today, the market turns and goes
in the opposite direction. This situation has occurred at peaks and valleys over the past year. Will there be a reversal and an up market on Monday? Maybe!!
Have a great weekend!!