RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

May coffee is looking to garner support with a very large swing from the 50-day moving average around the 128 level, up to the 137 level. Since bouncing directly off the 50-day MA (on March 9th of this year), we can also see a failed outside-day (down) pattern followed by a massive rally. RSI levels are not yet at overbought levels, and volumes are high.

Due to ongoing dry weather in key growing areas of Brazil, we can expect the new crop 21/22 to have some supply side shortage issues which should continue to support higher May coffee prices. In addition, demand is continuing to pick up in the US, with stocks rallying to new highs by the day.

We can expect continued support for the foreseeable future, and new buyers should wait for another pullback to the 1.31 level (25-day moving average) to ride another leg higher. 

For more frequent commentary, please check out and subscribe to my daily futures market videos on coffee and other commodities.

Coffee May ’21 Daily Chart
866-536-8601312-373-5392Series 3 Licensed

Adam Tuiaana

Senior Market Strategist
Adam grew up in Chicago and was always fascinated by the fast-paced action found in the futures market hub there. He began participating in the financial markets by trading stocks in 1997 and began his career as a trading consultant with RJO Futures in March of 2009. At RJO, he specializes in risk management and disciplined trading plans, and is focused on educating clients with one-on-one consulting and training. Adam believes the best approach to trading is to take a measured and objective approach and let the markets guide your decisions.
Read More