Re: Bloomberg: Rabobank Projections
Thanks Tango. I should have better clarified...i think their Brazil numbers are fine. I think their global S&D has been and continues to be a complete joke...if they were anywhere close to right, price would be 150 right now. They also lowballed the deficit all year as price was going higher. I think numbers like Conab's are equally as bad specific to Brazil (though I think Conab's arabica numbers have gotten better...it's just robusta they dont accouunt for correctly). I continue to think USDA is the best arbiter of global supply and demand...the problem is they only come out twice a year and are often reflective of what the market was thinking a couple months prior...so you need to use them as a baseline, but adjust their numbers as you see fit given the slew on information at hand.
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