"multi yr nature of coffee's bull mkt is becoming increasingly likely. Although, we retain our near term forecast of $1.70/lb as we believe this yr's crop condition was not materially impacted by the recent frost....we see a sequentially tightening coffee mkt driving prices to near decade highs by mid late 2022, and raise our 6 month, 12 month forecasts to $2.15 and $2.80 respectively (vs. 189, 192, 194/lb forwards ) "
Goldman Sachs Group
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