The risk of great expectations is great disappointments.
Initial assessments are that the much ballyhooed 2nd (technically 3rd) frost of 2021 did not cause significant damage, or at least, not as much as feared.
It is still too early to make long term judgments but the market specializes in rapidly assessing risk and adjusting as the information arrives. The market opened sharply higher and then sold off early with 2 large volume spikes that brought the market 10c lower and we have largely traded around that level since.
Its hard to be bearish when we have just had the worst frost since 1994 followed by a second smaller frost but its not exactly the coffeepocalypse that was predicted either.