No one tells lies. The most recent C.O.T tell us everything. While the Speculative large funds have covered their old shorts, the Commercial sector (Producers) have bought these old shorts to build their new shorts.

The Commercials/producers reach a highest size of their net shorts in 2019: 40.000 lots net shorts.

In stead of organizing protests on streets or around international coffee shops, Brazilian producers take advantage of price rally in New York to sell for hedging their big new crop. Brazilian producers are the world's most smart farmers.

I agree with Potifar's comment.