Rich, please take into consideration that the coffee market of the 1970s was a different market than it is today. Back then the market was very much controlled by the ICO as it represented a group of producers (“The Group). Today that control is non-existent. Back then the volume was considerably smaller than today. There were maybe a dozen floor brokers, unlike the number of floor brokers and locals before electronic trading took over. There were no options in KC, only in RC, and so there was less market resistance compared to what we see today. Back then, coffee plantations existed in vulnerable locations. This vulnerability was eliminated in the 90s. Back then, there were no funds like there are today. The investment factor is considerably greater today. So I’m not saying that the market can’t go to extreme highs. I’m just saying that everything should be considered when comparing 2 markets, especially two that are almost 50 year apart.

I enjoy you sharing your knowledge about climate change.