In the May WASDE global ending stocks are projected to be at 186.4 million tons, up 6.2 million tons from last year. The 51.2 million ton increase in foreign production will more than offset the lower forecast production in the U.S.
This past Thanksgiving trading week, the December 2013 E-mini S&P 500 opened at 1802 and closed at 1804. We could be seeing an early month correction along with end of the year profit-taking. December is the second best month for equity returns averaging an estimated 1.5%.
The Federal Reserve knows how a weaker U.S. dollar helps U.S. exports. Any threat to U.S. exports — a strengthening U.S. dollar — could hurt exports, in turn hurting the U.S. economy, which could hurt jobs.
Last week March 2014 coffee opened at $106.50, and after a rocket ride up on Tuesday closed the week at $115.25. What gave bulls the shot in the arm to do this? News last week was there could be a near-term squeeze in Robusta supply.