First and foremost, I would like to wish everyone a very happy, healthy and safe holiday season! This year is not like any other, but 2021 shows light at the end of tunnel.
I would also like to wish all profitable trading year ahead.

While I have stepped back from day to day trading, I still watch the market and will begin to participate once again beginning this week. Also, while less engaged I do continue to monitor the forum and remain as forum administrator. I thank you all for keeping me in the loop regarding market activity, sentiment and what the future may or may not look like.

The purpose of the forum has always been to provide the best information to all participants for our beloved coffee market. It is certainly a niche market and this forum brings about participation from across the globe. While the format is simple and for the most part "old", we are able to meet our goals. We have daily contributors that are really the lifeline of the forum - Tango, Nagual, Gomes and of late CafeicultorBrasileir to name a few. This forum has been around for nearly 20 years. Aside from the incomparable longevity, the integrity of the forum has stood the test of time. That is because of all of us that contribute. We've been tested but at the end of the day, have always prevailde in providing reliable, credible flow of information and analysis.

I would like to keep it this way as I am sure most of you do. Several years back we instituted a code of conduct to keep everyone on the same page. When violations are recognized, a warning is often given and when those warnings are ignored, some cases have resulted in suspension or removal from the forum. Believe me, the flexibility is there but the code needs to be respected. This forum is not here to influence price. Those of us around long enough know, the market always knows best. Our value comes from the reliable flow of information, whether it be objective or subjective. Self-serving posts do not benefit anyone.

MAJA has been a forum contributor for many years. In my observations, he was always a gentleman and treated others fairly. Recently, for whatever reason, that changed. He was issued a warning but that seemed to fall on deaf ears. I personally spoke with Marco and I think his intentions are not malicious. He has been ringing the alarm bells for many years about crop conditions and impending shortfalls etc. This year there may be something to it, though the forum would benefit most by having fair and open dialogue. Once it becomes "I'm right and you're wrong", we begin to lose value.

If in fact there are fundamental issues, those issues will pass the litmus test when challenged. My goal is to keep the forum the outlet is has matured into over the years. Technical analysis is more black and white and generally can be confirmed (or not) in short order. When it comes to the fundamentals, well the debate can take many months to play out. Daily traders tend to carry a results now mindset. Longer term traders have different strategies. Both can co-exist and it is my hope that all forum participants recognize that.

We do not all need to agree to be successful in the market. Hopefully, when someone shares some information, an individual can use that to boost an existing an idea (or perhaps raise some caution flags). That is what makes this forum work. That adds the most value to all.

One thing we all have in common - 2020 has been the most unique time of our lives. In the interest of optimism and a positive outlook for 2021, I propose a fresh start. I am sure all would welcome MAJA back to the forum, so long as he is respectful to all. CafeicultorBrasileir no longer needs to act on his behalf. The forum can once again focus on coffee futures. I think this is something we can again find common ground among all participants (producer, trader, hedger, etc). Respect and objective dialogue goes for all, not just MAJA (myself included).

I hate to lecture but I felt this was necessary. I would finish up urging all to pay attention to some of Judy Ganes latest comments regarding crop conditions. I think that could become a good conversation for the forum to follow up as head into the Christmas holiday and beyond.

Good trading, good health and happy holidays to all.
JuanV