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Re: NY Times: Virus in US
Below is the 1 week moving average of daily new cases in Western Europe. The chart is labeled EU, which is not fully accurate - it's the summnation of Italy, Spain, Portugal, France, Belgium, Denmark, Sweden, Norway, UK, and Ireland. Cases are sharply lower. I fully understand your point on Europe's problem with getting vaccines and current lockdowns, but cases are sharply lower. Once Europe gets the vaccines rolling, they'll be in good shape. I'm not assuming demand fully recovers until September, which I think is enough to fully tighten the global coffee balance sheet over the ensuing year. When that will mean anything for price I do not know but as long as coffee demand recovery isnt pushed back well into 2022, world coffee will tighten a lot in the next 18 months.