Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Nelson Almeida/AFP via Getty Images

Coffee is hovering on the edge of bear-market territory amid shifting supply expectations in Brazil, Bloomberg reports.

By the numbers: As of Friday, ICE stockpiles showed their first consecutive weekly gain since August, with weakened Brazilian currency increasing interest in "exports priced in the greenback," per Bloomberg. Coffee beans for delivery in March declined to $1.1215 a pound on ICE Futures, and the price fell 19% from a December high — inching closer to the 20% threshold of a bear market, Bloomberg writes.

  • Brazil's top arabica shipper Cooxupe said it was running low on beans to fill new orders, "countering forecasts of ample supply that drove prices to 13-year-lows," Bloomberg notes.

What they're saying: “As the crop was smaller last year, the big export volume implies Brazil probably had ample inventories,” Nelson Carvalhaes, CeCafe president, said at a press briefing.

Go deeper: Investors react to Brazil's plummeting coffee reserves

Go deeper

Georgia governor declines Trump's request to help overturn election result

Georgia Gov. Brian Kemp. Photo: Elijah Nouvelage/Getty Images

Georgia Gov. Brian Kemp pushed back on Saturday after President Trump pressed him to help overturn the state's election results.

Driving the news: Trump asked the Republican governor over the phone Saturday to call a special legislative session aimed at overturning the presidential election results in Georgia, per the Washington Post. Kemp refused.

Philanthropy Deep Dive

Illustration: Aïda Amer/Axios

A look at how philanthropy is evolving (and why Dolly Parton deserves a Medal of Freedom).