USDA Releases Bi-Annual Coffee Report

Last Friday, the USDA released its Bi-Annual Coffee report. In the report the USDA gives an overview of Brazilian and world coffee production. The USDA coffee production estimates for Brazil and the world are still above what the recent street estimates have been. The USDA estimates world coffee production at 149.8 million bags for the 2014-2015 season, down 2.7 million bags from last year. Before this estimate, traders had been looking for world coffee production to be 141.0 to 148.4 million bags.