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Morgan Stanley Reports Brazil Coffee Rain Damage And Mkt Biased Against Losses, Ag Agencies Confirm As Much As 36% Of Arabica Crop Hit

http://spilling-the-beans.net/breaking-frost-strikes-brazils-key-southern-minas-coffee-belt-damage-reported-as-frost-alert-extended-for-4-days/

JUNE 17 UPDATE:
*New report by New York-based financial services corporation Morgan Stanley says the damage in Brazil from unseasonal heavy rains during May are potentially as high as 36 percent of the TOTAL harvest in the key coffee producing regions of Southern Minas and Sao Paulo, areas that account for over 60 percent of Brazil’s total harvest and over 80 percent of the Brazilian Arabica crop. The figure for the scale of the potential rain damage was not Morgan Stanley’s own research or evaluation but attributed to the Brazil Farm Ecnomy Institute, IEA.
*Morgan Stanley also say that “a bias exists” from trade and managed money to ignore the extend of losses in Brazil
*Morgan Stanley also CONFIRM PROJECTIONS by SpillingTheBeans that the current harvest is between 25-50 percent completed, saying actual figures are at 34 percent complete by June 14th, leaving AMPLE room for weather impact to keep the new coffee in Brazil vulnerable.
–SpillingTheBeans has NOT seen the original report, only extracts. Stay tuned for more updates!
(MORE)

JUNE 16:
*Brazil’s SOMAR says new intense cold front provoked by La Niña / La Nina can continue to hit coffee regions in Brazil across Southern Minas, Sao Paulo and Parana for a full 3 months more all the way through September. See full story here (in Portuguese), English translation coming up:Brazil’s coffee regions at frost risk for 3 more months as La Nina cold extended

*SOMAR AgroMeteorologist Marco Antonio dos Santos Confirms “There HAS been damage in Southern Minas, Sao Paulo and Parana – there will be losses.” See the full interview here (in Portuguese), English translation coming up:Brazil’s Somar CONFIRMS frost damage to coffee in Southern Minas, Sao Paulo and Parana