SIGNAL TERMINATION – COFFEE LONG – TAKE PROFIT
ORIGINAL TEXT: Coffee Long. Coffee prices have reached the highest level in the last 3 weeks. Basically dry conditions in Brazil provided support for coffee prices on Monday after Somar Meteorologia announced that it had rained last week in Minas Gerais, Brazil’s largest Arabica coffee-growing region, just 4.7 mm, or 22% of the historical average. Coffee prices also support supply concerns after Citigroup said last Tuesday that Arabica coffee would have a “significant” production deficit of -7.5 million bales for the 2021/22 growing cycle.