Today was another down day. December coffee opened up 20 points and then it started to fall and closed 45 points up from the low at 1.2100, down 375 points for the day. The attached document indicates that precipitation will be above normal for the next few weeks. Neither the Dollar nor the Brazilian Real have moved much in the last week. So it appears that weather in Brazil is driving the market. If the rains continue and we have a good flowering Brazil we could easily challenge 1.15 again.
The other attachment indicates that Colombia is cutting its quality standards so that they can sell more coffee.