The coffee futures price chart shows the 14-day RSI at 63, close to overbought territory. Technical analysts caution that overextended positions could face retracement toward $2.26/lb if speculative buying subsides. Earlier this month, on September 5, President Trump signed an executive order updating tariff rules. Included in the order was a 109-page annex that covers a list of products not grown in the U.S. in sufficient quantities, which are to be treated as “unavailable natural resources” and potentially exempt from future reciprocal tariffs. Coffee and coffee products are included in the list, which is subject to future negotiations. We are therefore seeing a combination of bullish and bearish factors, which explains the volatility we are currently observing. With coffee futures price approaching quarterly highs, commercial hedgers are locking in positions. The latest CFTC Commitment of Traders report shows net long speculative positions rising by 5%, underscoring bullish sentiment.