For most of the last 40 years, the Arabica market has reliably been in contango, paying the trade to hold inventory. However, this all came to an end with the 2nd Coffee Cert Crisis that began with the 2021 Brazil frost. This prolonged period of scarcity has created the longest and strongest inverted market since the mid-1990s. In this webinar, we examine historical calendar spreads to create a model for understanding the current backwardated market in Arabica, and use this model to forecast the end of the inversion.