COMMODITY INSIGHT
152 Ennis Lake Road, Ennis, Montana
(October 5, 1997) COFFEE: My work is suggesting that coffee prices are poised to plunge hard into mid- October. Such a move would be typical since October can be brutal for those long any market. Often, October is uglier than ugly for tropical commodities.
On the downside, my target for December coffee futures is a test of the 155 level within the next two weeks. If that level holds, I will turn buyer in the near future. But I wish to wait another week or so to see if October can push prices down to my buy levels.
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