Coffee is experiencing a recovery rather than a true bull market, Judith Ganes, president of J Ganes Consulting, told Real Vision’s Trade Ideas. Longer term, she expects recovery to continue, but anytime the market spikes up as this one has, it's going to take a break. Time and time again, the market always seems to gravitate into this 1.20-1.40 bound, she said.
Weather has impacted cocoa and prices could soften, but demand is relatively good right now. Ganes expects 2350-2400 as a downside, 2700-2800 on the upside. Because it's the beginning of the new season,