In NY, there weren't many fundamentals behind the sudden climbs. The appreciation of the oil and the CRB commodity index stimulated a strong movement of buying funds and speculators also in coffee. Technically, the stock market was advancing and overcoming resistances, triggering sell stops and accelerating the bullish movement. SAFRAS & Mercado consultant Gil Barabach points out that the gains were more closely linked to technical aspects and oil.
In key factors, the scenario follows pressure on prices. Broad global supply weighs on prices. Brazil has been keeping a strong flow in exports, and next year's crop now has a more beneficial climate, with speculation that production may approach or surpass the record of 2018. Apart from that, the end of the year marks the beginning of the harvest. from important origins such as Vietnam, Colombia and Central American countries. That is, the picture remains comfortable for consumers.
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