That is pretty unreal, it is had to believe how low coffee is trading. I would expect you would have riots occurring from growers across the world, and farms simply refusing to produce at these levels. I already bought into this falling knife a few times, and not going to today. However, if you have some funds your wanting to invest, I can't imagine that if you bought here today, that in 52 weeks you would not have an excellent gain on your investment.
Purrldiver, yeah, good call not buying on margin with JO. I did not as well. Goldman lowering their price target is exactly that, a chance for them to exit their short positions. With time this will reverse and head higher, and it will be interesting to see if it makes a hard move to the upside or just grinds higher. This is a case where patience wins the day. If JO breaks breaks $28, I may have to add again. This is my favorite trading commodity, despite the paper losses I currently have, I have faith this is close to a bottom, and major upside is on the horizon.
I am in the same boat as you. I have bought into the falling knife a few times. I am not selling. Not worried about margin calls since I don't buy on margin (learned that lesson the hard way back in 2000). Goldman Sachs lowered their long-term price targets on coffee a few days ago. I take this call by Goldman as a positive sign. Goldman is probably starting to cover some of their short position after pushing the price down.
The reason there are no riots from growers in Brazil is that I think the Brazilian government subsidizes the price so farmers can grow as much as they can. This is a major reason for the low price. If the Brazilian government was not supporting the growers then the growers would cut production.