Brazil’s Full Of Beans
But its definitely not sharing any of them. After two years of record crops, coffee prices have been pushed so low that farmers are refusing to sell their beans in hopes of a miracle price appreciation.
Recent reports that Brazil is headed towards yet another bumper harvest season sent arabica futures plummeting to their lowest levels in 13 years. So far, the farmers’ strategy has been to hoard their beans in the hopes that a supply shortage might support prices to a point where it becomes more profitable to return to the market.
This move, however, may be doing more harm than good. While the shortage has helped boost domestic prices, it has also made one Brazil’s primary exports less competitive in the international markets and easily substitutable for locally sourced beans. Yikes, don’t shoot yourselves in the foot here guys!
Brazilian coffee exports dropped roughly 20% in the month of March alone, and a number of prominent hedge funds have wagered on further declines in both the futures price and Brazilian exports throughout May.
These farmers may not be so full of beans when their export market gets swallowed up by the competition…
Avengers Crushes Box-Office Records
Superhero fans came from far and wide to see the epic finale of the Avengers movie series, Endgame, racking up an unbelievable $1.2bn in global sales. Mind-blowing stuff!
The blockbuster film annihilated previous records set by Endgame’s predecessor, Infinity War, collecting a handy $330m in US theatres compared to the previous record of $257.7m set in 2018. Movie theatre chains have been holding some locations open for as long as 72 hours straight to cater to the unbelievable demand…and it may just be getting started!
Tickets have even been seen listed for as much as $25,000 a pop on ebay and signs have even been put up around London urging subway riders to hold off on spoiling the movie for others. This film is just the first of a few major titles to be released this year by Disney…And investors are loving it!
If the likes of The Lion King and Toy Story 4 follow a similar path as Endgame, Disney will be in for the best year in its history. Disney’s stock price is up 26.30% this month alone and may be set for more gains if it can maintain its unparalleled hot streak of record-breaking cinematic content.
What a time to be alive!