Today we saw probably the biggest one day price swing in the most recent history.
By 4:40 only 25 minutes after opening July coffee rose over 500 points to 1.4500. Then July dropped dramatically to close at 1.3395 down 580 points which is very close to the low of the day. The high to low point swing was 1145.
I have attached several reports, some very brief, regarding production and weather.
Brazil is getting a lot of rain which is negatively influencing the harvest, but most recently there were reports of low temperatures, but no frost. Vietnam, Colombia, and Brazil Arabica coffees are expected to post gains in to the next crop years. Meanwhile even with Vietnam’s Robusta gains a shortage of Robusta coffee is expected.