20-Year Supportive Trend In Coffee Remains Intact

Three months ago we bought coffee via JO.

 

JO is the iPath Bloomberg Coffee Subindex Total Return ETN, an exchange-traded note issued in the USA. The Note will provide investors with a cash payment at the scheduled maturity or early redemption based on the performance of the underlying index, the Bloomberg Coffee Total Return Sub-Index.

 

Below is an updated chart showing a supportive 20-year trend.  It's virtually indistinguishable from the chart we posted three months ago, other than a slightly new low was made since we posted the last coffee chart and at today's close coffee is $2 lower than it was back then.  $2 is an immaterial amount in this context.

 

We remain bullish coffee and long JO.

 

 

 

 

 

 

 

 

 

 

 



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