fundamentals are important - Brazil gained +4% in new coffee producing land last year - they have 40% of global output => +1,6% world coffee production only from Brazil and good weather conditions (until now).
their currency is to watch too! As long as Bolsonaro is president its really difficult, because they can easily convert rain forest to agricultural lands, witch is bad for coffee prices (and the world too).
in the long term coffee needs to go to 1.50 - 1.70
September/October its more interesting - El Niño
their currency is to watch too! As long as Bolsonaro is president its really difficult, because they can easily convert rain forest to agricultural lands, witch is bad for coffee prices (and the world too).
in the long term coffee needs to go to 1.50 - 1.70
September/October its more interesting - El Niño
Trade aktif:
i think we are reaching interesting area to start buying arabica. but always watch USD/BRL - and bolsonaros politics.... same for SUGARUSD
Trading ditutup: target tercapai:
It's an interesting price area - i start to buy