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Buy the Rumor, Sell the Fact: Coffee Frost Risk in 2021

"Buy the Rumor, Sell the Fact" is a favorite phrase in the coffee community, and it is one that we hear every year around this time of year because it so frequently relevant to #Brazil #coffee #frosts.

Coffee frosts regularly build up excitement because they represent a dramatic threat to supply, and historically have caused some dramatic price movements. In the last 20 years though, they have rarely materialized into the promised disaster.

This year though, the threat was amplified by the existing #deficit. If the #21/22 defic