Coffee Prices Hit Fresh Contract Lows
Coffee Futures--- Coffee futures this week were absolutely crushed down by about 1200 points from last Fridays close currently trading at 166.55 a pound which is a new fresh contract low down another $.30 points in today’s action hitting a fresh two year low this Friday pre-Memorial holiday weekend. Coffee prices continue their down slide on the fact of a large harvest coming increasing the supply while demand is very low at this point even with prices coming down to these levels which are still historically very high, remember coffee prices for years were stuck in between the $.60-$.90 range only recently in the last five or so years have coffee prices been this high and in my opinion I believe coffee prices like I've stated in many previous blogs before this one are headed down to the 150s in the short term. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.
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