Over the last week, there has been a lot of market chatter concerning potential frost and subsequent damage to the Brazil coffee crop.  Within one week, coffee for Sepember delivery went from below 1.13 last Wednesday to 1.19 on Monday, and are now trading around the 1.17 mark on the NYBOT.  Weather Trends International expects the next two weeks to resume a normal pattern throughout Minas Gerias and Sao Paulo states, with the only real cold air affecting the south towards Rio Grande du Sol, which is outside of the central coffee growing region.  Overnight lows in the coffee growing states will be in the mid 50s.  Prices may not slide much further however, as the global S-D situation is pointing towards some tightness later in the year.

This entry was posted on Tuesday, August 7th, 2007 at 10:10 am and is filed under Global Commodities, Global Weather, Softs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.