We hope our little newsletter finds you and yours safe, and practicing best practices as prescribed by your local health authorities. We’re worried about each and every one of you and keep you all in our
Another week of trying to deal with unprecedented times as we all try to make our way in the time of Covid-19. So far, our team continues to work spread out, mostly from home. Our logistical support continues to work hard to get our friends and partners coffee on a timely basis. Things might take a little more time to accomplish but, so far, we’re managing to get coffee moved from origin to your factory/roaster.
A reminder that this Friday, April 10th is Good Friday and the markets, warehouses and our offices are closed.
Last week the market moved quickly higher on spec-based selling. The “new normal” is for lower daily volumes, especially in the early part of the session, making the market easier to influence. We gapped higher and once again tried upside resistance at 120.00 where again the market failed. Subsequent selling brought the market back down towards the end of the week, we’re guessing on funds reestablishing shorts after failing to pierce the 120 level. The COT showed funds buying about 1400 lots and covering about 6000 lots of shorts, we expect that next weeks will flip 180 degrees.
Having filled the gap this morning, the market looks for support at the 200-day moving average or 112.10 this morning. We’ll see if it can hold.
We had some nice PNG coffee arrive last week, the samples are here, and we’d love to share them with you. Fresh new crop Costa Rica Tarrazu have just arrived, as have some Sumatra Mandheling. Please check out the list of offerings that accompanies this email – you’ll see a lot of different offers and we’re always happy to share samples if you would like to see them.
We’re here if you need us, even if you’re just looking to brighten up you day with a conversation about coffee. That’s what we do!
All the best
Your friends at Armenia