Monday, July 20, 2020

Random Note On Coffee Futures -- July 20, 2020

So, if cocoa futures are tanking because folks are not going out to eat as much, how is coffee doing? Pretty much mixed: in the past four months, some very bullish signs, and then other days, some very bearish signs.

From May 23, 2020: coffee futures crash.

And then, July 11, 2020, from a contributor at SeekingAlpha: fundamentals support a coffee turnaround.

I suppose there are many, many ways to explain the "difference" between chocolate and coffee during a pandemic. But I will leave that for another day. Or another reader.


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US Crude Oil Supply

Link here.

At 37.6 days vs a recent high of 42 days.

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Legacy Fund

Pending. We should see deposits data sometime this week, perhaps today. 
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2 comments:

  1. Bakken OwnerJuly 20, 2020 at 12:51 PM

    Looking at the days supply like an obese patient, looks like there are about 12 day left to shed to get to the former best recent weight (days).

    ReplyDelete
    Replies
    1. Bruce OksolJuly 21, 2020 at 6:01 AM

      You are quite correct.

      On a completely different note, the algorithm behind this statistic must be quite complex: simple arithmetic for factoring US crude oil inventory; but calculus to determine rate of growth/decline in demand going forward.

      Delete

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