Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
I was disappointed on Friday to see Brazil exports got a push of 200,000 bags in one day. Let's remember that July 2016 last year exports were around 1.9 million. The situation is not totally out of whack and certainly not unexpected by the industry. Buffer stocks in hands of consumers are greater now than a year ago. What if Brazilian exports start to sing this tune for the next month ? we will end up with 2.5 million a month and 30 million for the year, and that is not enough to propel this market to high figures above 150.00.
It is too early to start drinking Kool Aid. Let's keep a cool head and see if the low exports really do materialize through August and September when traditionally export figures are high. Brazil just might equal the export pace of last year.
I know I am wavering around my opinion regarding this but the honest truth is that I am not totally convinced yet. Things like Friday's figures are just the type of things that set me back.