The coffee market has the benefit of a huge new crop coming in now.
More Quotes from Phil Flynn:
It seems like the concern about the Iran showdown is trumping the fact that supplies are pretty good right now and that seems to driving the market.Phil Flynn
Underneath, if it weren't for Rita, (the industry) had some very good news on the front, ... If Rita doesn't live up to her billing, we possibly could see a nice correction in energy prices.
Phil Flynn
The market is hopeful that we can find a diplomatic solution to get out of this crisis.
Phil Flynn
Worries about the weather are so last year. Now the focus is turning to tight gasoline supplies. The market has priced in a mild winter so if we do get change to cold, the reaction will be explosive.
Phil Flynn
I may be in the minority, but I think there's a strong possibility that we're very close to the lows for the rest of the year. If we get the cold weather like some are predicting, the commodity funds will favor the long side of the market as we close out the year.
Phil Flynn
We are not completely out of the woods yet, but we saw a lot of relief yesterday (Tuesday) and that trend is continuing,
Phil Flynn
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