Good morning and happy Tuesday
Monday was Memorial Day here in the USA. Armenia Coffee Corporation is so very grateful to all who served in our military, especially those members who gave their lives to keep us free, and their families, who support them.
Well, well. Colder forecasts came for weather in Brazil’s coffee producing areas. While very early in the season, it reminded traders that this is the time of year where the weather gets more tricky. While we haven’t had a real weather challenge since 1994, one wonders what would happen to a market with fund shorts of over 70,000 lots if we did. This one didn’t turn into anything worthy of mention, but it seems to have asked the market if they really want to be this short.
The colder weather was able to take us through some short-term stops, even again this morning, after we knew the weather challenge has passed. It’s given us the chance to correct, at least a little bit, the long downward slide that started in February. We have even heard from some analysts this morning that some shorter-term traders might even be looking at the market from the long side now. Longer term traders will not however see this as anything to fear, for the most part, not unless we make a much more concerted effort to head back towards 112, from whence we came.
Interesting that the Brazilian Real devalued to 4.1211 last week, and surely brought in some Brazilian selling into the rally last week.
We have some Colombian Supremos just hit the water, and a partial box of Excelso EP that arrives on the 31st . Some New Guinea AA and some Peaberries just arrived into Continental, nice coffee from Sigri Estate. They join recently arrived Guatemala Antigua “Pastoral”, Costa Rica Tarrazu “La Pastora”, Honduras “Marcala” both conventional and FTO, Nicaragua FTO, Mexican Chiapas FTO from our friends at GRAPOS, and some RFA Brazils from our friends at Ecoagricola.
We’re expecting to hear about some Kenya coffees that should be on the water over the weekend. We handpicked these lots and are anxious to bring them to you.
How can we help you today?
The Armenia Team