Great to meet you, knox10!

WOW!

You are exactly right and this is a great threat/post.

This is normally the dry season in Mineas Gerais and the surrounding areas. Perfect for harvesting the coffee crop that matured in late Spring.

This year's crop was supposed to be a big one and prices were making significant lows, in fact life of contract lows last month with the anticipation of those huge supplies hitting the market.

That price action is typical for markets. They make SEASONAL LOWS AHEAD OF the peak harvest in anticipation of the new crop supply hitting the markets

Then..........BOOM! Heavy rains fell. Initially delaying the harvest but now, apparently damaging the crop???

With the market having already bottomed with a spike, multi year low and expectation for a huge crop dialed in, I'll guess that speculators and others were ready to jump on the long side with bullish news.

https://tradingeconomics.com/commodity/coffee

1. 10 years

2. 1 year

3. 1 month

4. 1 week