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JO - The Rally In Coffee And Global Weather Issues Developing For Wheat
iPathA Series B Bloomberg Coffee Subindex Total Return ETN
My bearish attitude in coffee (JO) this last winter and spring was due to a rebound in global coffee production from ideal weather in Vietnam, Indonesia, Colombia and also Brazil. These production rebounds were a sign that El Nino has been very weak, otherwise, serious production losses could have occurred like they did in 2015 when coffee prices soared. However, don't tell farmers in Australia where drought continues, or skiers, municipalities and the Corp of Engineers in the Midwest and west that El Nino has been weak! Record western snowfall and one of