The C market continues to wallow near enough to the lows that an imminent test seems assured.
Last week’s fund rebalancing was anticipated and though it provided a quick little burst early in the week, it was short-lived, and we quickly turned lower. At the lows for the week roaster buying was noted, and here we sit.
There isn’t much to add that we haven’t already said about this market. We received a note from a Brazilian exporter that the 18/19 crop was estimated finally at 63.05 million bags by them (being 46.7 million arabicas and 16.35 robusta). They additionally expect July 2018 to June 2019 exports to be an amazing 39.8 million bags.
Afloat is 3 new containers of Colombian Excelso EP 10, some PNG Sigri AA, B and PB, and a FT/Organic Sumatra Mandheling. Speaking of Mandheling, our NC Mandheling is now in Continental and ready for samples or pick up if you’re so inclined. Our cupping showed it to be a very nice delivery.
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The Armenia Team