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Coffee Perks Up

Coffee prices rocketed to a seven month high last week after the International Coffee Organization published a report predicting a serious decline in global supplies this year.

Exports from Vietnam (VNM), the world's largest supplier of low grade coffee, will be off 20%.

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Poor weather is causing sales to plunge 10% in the number two source, Indonesia (IDX).

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Reports of a cold snap in Brazil have also given a jolt to prices. At the same time, demand from China, where else, is soaring as trendy young consumers rush to adopt new western addictions.

coffee prices

Although it has been long in coming, my prediction that coffee futures would become the next hedge fund playground has finally materialized, and the ETN (JO), has taken off like a scalded chimp.

Looks like my expensive Starbucks habit is finally going to pay off.

Article courtesy of: The Mad Hedge Fund Trader


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EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
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