Coffee Goes Yallouz! On Crop Estimate
An unconfirmed crop estimate from a noted agronomist, Leon Yallouz, is producing a bullish response from traders, pushing coffee up more than 6%. Yallouz’s estimate of slightly less than 27 million 60-kilogram bags, is below a recent Brazilian government estimate and takes into account recent crop-damaging dryness.
The AOL-Time Warner merger announcement this morning—