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Frost, early flowering and macro
Posted by John
on July 11, 2019, 2:08 pm
Seems to me that most pundits are rushing to judgement on the assessment of frost damage with such characterization as only the top leaves are damaged etc., only in the lowlands etc. etc. The fact is that there was frost damage in Minas G. and rain that should lead to early flowering that is not likely to survive. So we have the scenario of a second or third flowering that doesn't support the idea of of another bumper crop in 2020.
Plus we have the macro working in our favor as I've discussed earlier. You know the drill, the Fed cuts rates, the dollar weakens, US equities fall not to mention Trump holds out against China on trade to win reelection. Haven't we learned that incumbents will put getting reelected first. GT
John M Moffatt