If the merchant pipeline takes delivery to try to make 2-5 cents, it makes sense that a curve that is charging that same pipeline 20-30 cents would find material delivered.

It's strange that it happened this quickly, but this was always an outcome.

Unfortunately, the Central Americans as usual will not have participated to the same extent as other producers, and will now need to search for demand as their harvests come in. It's a very typical coffee cycle.