by Dana Lyons
Coffee speculators have never been more short the commodity; are they about to get burned?
After enjoying a bit of a resurgence in recent years, most of the commodity complex has had a rough go of it over the past several months. And needless to say, the poor price action has taken its toll on investor sentiment. Perhaps no market provides a better example of such dour circumstances as does the coffee market.
As today’s Chart Of The Day illustrates, the price of coffee (as represented by the S&P GSCI Coffee Index) just traded at its lowest level in the index’s (albeit brief) history. Significantly, the price also undercut its previous lows from 2007, 2008-2009 and 2013. And on the sentiment front, the data matches price’s gloomy performance. According to the CFTC, Speculators in coffee futures have adopted their largest net-short position in the history of the contract – by far.
- This is the future they have planned for us…
- Are They Essentially Erasing Most Of The Internet?
- Heads Up: Something big is going down. Just about every commodity is collapsing in price. Things deteriorated so much that all the supply chain metrics have become way less constrained
- Bill Gates: Social Credit Scores Are An “Asset”
- Horrific news from Sodom Island
- China’s Warning ENTIRE Economy Will Collapse In 34 Days
- The Dead Internet theory just got even creepier….
- People Are Going To Go Absolutely Insane When Food Prices Double Or Triple From Current Levels
- CDC is quietly deleting misleading information from their website. The following statement was removed from their website between July 16th and July 22nd
- If you are waiting for recession, inflation down, FED pivot, etc., by the time it happens, markets would have already priced most or all of it in. Right on schedule… Michael Burry says the Big Crash is anytime now!