CEO of Excelso Coffee, Ed Field, reveals all the factors that go into each perfect cup of Field Coffee and Tea.
Today the December coffee contract opened down and tried to break through $1.81, where it had found support in three out of the past four days. At about 9:30 a.m., about three quarters of an hour before the attached article was released, the market moved quickly upwards. It climbed 690 points in 75 minutes, up to 187.95, probably hitting several buy stops on the way up. (Dare we say insider information.) Then traders started to digest the report and determined maybe the situation is not as bad as anticipated. December closed up 305 points at 185.25. Maybe tomorrow we will try to break through 1.81 again.
This Sept. 16, 2014 report released on the Dow Jones Newswire about the gain by arabica-coffee futures after predictions about the low yield in Brazil. “Brazil’s worst drought in decades raised worries about the size and quality of production this year, sending prices to a more than two-year high.”
Read the “DJ Arabica-Coffee Future Gain After Brazilian Forecast” article from the Dow Jones Newswire.