Happy Monday to our friends,
Hope our weekly letter finds you all happy and in good spirits after a lovely weekend, hopefully filled with family, friends and a good coffee or two, or three…
Monday finds us under 1.00 in Sept yet again. Market lost momentum and despite a bit of a correction mid-week, fell again on Friday. Charts have us worried here as two averages we like to watch crossed on the action of Friday and although it seems follow through is lacking today, the cross should indicate an end to this rally and a further move down. Resting just above the Fibonacci numbers here as well. Specs liquidated another 7,000 lots mas o menos. That weather scare really seems to have taken their attention. Some think this is bullish, that they are worried they are too short even still.
The good thing we noticed during this run up is the market seems to have taken some coffee into the rally. Brazil, Colombia, and Central America all were a little more active this past week. An interesting story in the Washington Post this week on how coffee prices are driving migration. We’ll link to it at the end of the report if you care to read it, we found it interesting.
Brazil’s EMBRAPA states that Brazil exported 16.86 million bags of coffee in Jan to May of 2019 compared to 12.04 in 2018. Although volume increased 40% the amount of revenue produced was only 12.7% more from 1.90 billion to 2.14 billion.
We have 2 lots of Colombia Excelso EP just afloat on the 15th. Supremos are expected to ship later this week. Reminders we currently have New Guinea Sigri AA, B and PB, Brazil mico-lots, Costa Rica Tarrazu, Guatemla Antigua, Honduras Marcala (both conventional and FTO) all in warehouse right now for immediate delivery as well as FTO lots from Nicaragua, Mexico, and arriving on July 5th, Sumatra.
We are really excited we’re moving closer to the arrival of some Kenya’s personally selected for you by our traders. They should arrive on the 21st and will be in Continental shortly thereafter. The best lots will likely go quickly, if you’d like to see them when they arrive please discuss with your trader here to make sure we have you among the first to see the samples.
As always, we’re here to help, you just need to let us know how we can!
Here’s that Washington Post article we mentioned above:
The Armenia Team