Richard CroftiPATH DJ-UBS CoffeeJOCOMMENTJun 15, 2017

Looking at the longer-term chart of coffee, it made a turn higher in about March, and had a pretty good lift from $17 to about $26. It has now pulled back into support at about $21. In general, the commodities are improving. We are seen strength in a whole bunch of different groups. This looks okay here.

Some commodities are behaving quite well. Thinks that technically this coffee ETF looks quite attractive. Coffee prices had been quite weak for a couple of years, and have made a nice turn here.

Soft commodities have taken a real hit. Chart shows a long downtrend from 2011, followed by a breakout in early 2014. All of the soft stuff went from about $38 down to the low $20’s, but coffee didn’t. Because of this, he would think it goes higher.