On Friday the September coffee contract closed up 140 points at 1.4285. Four days in a row September had higher lows and higher highs than the day before. Friday’s close is the highest close since October 14, 2015. Ten out of the last thirteen days have been up days with September rising over 1900 points.
I have attached a short report regarding coffee. The report suggests that there is concern about the size of the current crop that is being harvested because of too much rain. But the report also suggests that next year’s crop should be a big one.
Plus I am sure that after the recent close call with freezing temperatures no one wants to sell or short the market.
Happy Father’s Day!!!