Futures File: Farm Aid Program; Coffee Market Jitters
From: helenair.com
Coffee prices dripped to a three-month low on Friday, trading under $1.03 per pound.
The commodity has been extremely wild during the COVID-19 pandemic, with five moves of 20%-plus so far this year.
Demand and prices surged as Americans hoarded groceries, including their daily caffeine fix, pushing prices near $1.30 per pound in March. Over the last few months, demand has been falling as consumer use up supplies at home.
Despite the current low levels, economists warn that market jitters could send coffee flying high again. Brazil’s currency is tanking due to a worsening coronavirus outbreak that could threaten coffee supplies.
