Coffee Prices Plummet To Contract Lows Again!

22 Mar in Blog, coffee futures, commodity broker, commodity trading, futures broker

 Coffee Futures--- Coffee futures for the July contract plummeted with huge losses today down another 950 points to a fresh new contract low of 178.00 a pound in an absolute bloodbath in New York today. Coffee closing right on the lows of the trading session with the next support all the way down to 165.00 all pound which is still $.13 cents away and if it breaks that level prices could go all the way down the 150.00 a pound continuing its incredible bearish momentum. In my opinion I am very surprised coffee prices are at this low and I still believe if they continue to go lower look for buying opportunities going into the summer months because prices in my opinion are becoming too cheap. What would want Juan Valdez think of these prices at these relatively low levels going into a frost season? The fundamentals have a large harvest with a huge glut in supplies and another day of a stronger U.S dollar versus foreign currencies. 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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