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.