WTI Crude is trading above $38, up over 3% from its $37.07 close on New Year's Eve. Hedge fund short positions are near record highs, and speculators are at their least bullish in almost five years. Oil prices have shot higher this morning as diplomatic ties in The Middle East have heated. WTI hits last weeks highs Brent is currently outperforming trading 45c … [Read more...]
Coffee Just Got Cheaper: A Global Surplus
According to a recently published report by the USDA "World coffee production for 2015/16 is forecast up 600,000 bags over the previous year to 150.1 million as record output in Indonesia and Honduras--as well as recovery in Vietnam--more than offsets a shortfall in Brazil. Global exports and consumption are forecast at record quantities, lowering ending stocks to 36.7 million … [Read more...]