John T. Barone, president and commodities analyst for Market Vision Inc.
Two things can significantly move coffee prices — freeze or drought — and we are now in the throes of a full-blown weather market. Dry conditions in Brazil are adversely affecting the coffee crop, a critical time when the cherries are budding. Rainfall in Minas Gerais, Brazil’s top-producing state, was 60 percent below normal in January. Coffee futures have now jumped from a seven-year low of $1.0150 per pound in November to a high of $1.3570 on Feb. 7. Some private ...
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