Coffee Finally Gets A Boost On Brazilian Support

Coffee jumped the most in eight months after an announcement by Brazilian authorities of R$1bn in support for the coffee industry, including R$284m for funding storage of crop and R$242.6m in working capital for producers.

There was also some concern about dry weather in Brazil causing damage to trees that have already flowered.

However there is still certainly a bearish undertone to the coffee market with a strong Brazilian harvest and a larger one expected next year, as well as a decent Vietnamese robusta crop on the horizon.