So what? Considering the production data of this year and next year as well (both to be higher than the two previous year comparatively) and the very specific situation linked to covid-19 with a delay in harvesting or shipping.
"The analysts Safras & Mercado have estimated that almost 63% of the new Brazil coffee crop has already been harvested.... compared to the same week in 2019 when approximately 75% of the crop was harvested, although the size of this biennial bearing larger crop can be attributed to the slower harvest time this year."
I put another graph of KC price covering the same period and I am even less impressed by the correlation or even the absence of it.
It could mean that many people or businesses made some stocks during the current period (including myself but I'm starting to decrease it from 4 boxes of 250g arabica to maybe 2 or only one)
Any other opinion?