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Raining on the Bullish Parade

The #Brazil 22/23 #coffee crop has been through a lot this year already, but over the weekend we finally had some good news for the farmer: a healthy rainfall. There has been substantial damage to the crop already from the #frosts and the #drought so there is question here as to what the rains mean.

My view is that the rains portend a strong recovery in the #Arabica crop and will bring in a lot of Brazilian selling to the #coffeemarket.

Brazilian Rains Raining on Coffee Market's Parade

What's the Context

There was a substantial rainfall deficit both in 2020 (affecting 2021 crop) and in 2021 (affecting 2022 crop). Back in April