Coffee Update: Balanced Risks To 2010 Price Forecast

Core View: Despite an aggressive price spike in June, we foresee balanced risks to our current average price forecasts of USc145.00/lb in 2010 and USc150.00/lb in 2011. While we had been growing increasingly bullish, the extent of the surge in prices took us somewhat by surprise. Indeed, we have been flagging up supportive underlying fundamentals for some time and the uptick in prices has been in line with our core view.

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