CEO of Excelso Coffee, Ed Field, reveals all the factors that go into each perfect cup of Field Coffee and Tea.
Today was a bit exciting. (Allow me a little humor.) December closed down 11.35 points at $1.8125. It looks like December traded a few hundred lots in each five-minute period throughout the day, but from 1:20 p.m. to 1:25 p.m., five minutes before the close, December traded 2,146 lots, which sent December down 280 points and set a low for the day.
I am sure the December hit several sell stops in that slide. So, what is driving the market down? Clearly, some of the push down is from people who think the coffee supply this year and next year will be satisfactory to meet the needs of the market place. But also the strength of the dollar in relation to the Brazilian Real and the Colombian Peso affect the coffee market, because the coffee is traded in dollars. After the big drop today and the slide this month, we could see a correction tomorrow.