CEO of Excelso Coffee, Ed Field, reveals all the factors that go into each perfect cup of Field Coffee and Tea.
With the Brazilian weather staying dry, which is good for the harvest, the bulls seem to be exerting their muscle. Yesterday, the December coffee contract closed up 150 points, but was nearly 400 points higher at midday. Today the market started fairly flat. But around 9:45 a.m., strong buying came to the market, which rose about 800 points in less than 15 minutes to a high of 189.90 points. The market closed up 820 points at $1.8910.
A Sept. 24, 2014 report by Meteorlogix, which predicts “mostly favorable conditions for harvest during the next five days. More rain will be needed during the coming months to support flowering of the new crop.” Although this weather report indicates dry weather for the next five days, rain early next week, if in great quantities, could make the market turn around. If the weather continues to be dry, we will see much higher prices.
Read the Sept. 24, 2014 article, “SAO PAULO AND MINAS GERAIS.”