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iPathA Series B Bloomberg Coffee Subindex Total Return ETN
One of the few commodities to escape virtually unscathed from the coronavirus panic is coffee. Coffee prices have risen sharply in recent weeks, thanks largely to tightening supplies and short covering. In this report, we’ll review the key fundamental factors which point to coffee’s longer-term bull market remaining intact in the months ahead.
Since bottoming in early February, coffee futures prices on the ICE have risen by some 24%. This is in utter contrast to recent performances for other soft commodities in recent weeks, including sugar (down 13%), cocoa (down 10%) and cotton (down 14%).