Summer Monday here in the northeast, the sun is shining, birds are singing. There are peaceful times in the morning, before we remember all of the challenges of these days, that are helped by a little tranquility, and a good cup of coffee. Hope you are enjoying one as you read this blog post.
We came back from the long holiday weekend without cold weather in Brazil and with the forecasts saying nothing was on the horizon. That took the market from the Thursday closing recent high, back below a dollar. The market spent the rest of the week trading inside a range without much to report.
The disaggregated commitment of traders report showed fund bought about 2500 lots total, and now sit net/net just less than 23,000 lots net short, though the gross number is still over 50,000. We mention the gross number as that would surely come into play if we ever got wind of some colder weather coming, though right now it’s not on the horizon as we said. The Brazilian Real which ended June nearly 5.50 per dollar, is closer to 5.35 as we start the week, but it’s been very volatile, as both countries struggle with the pandemic.
Stores across the USA try to reopen amidst challenging times to say the least, as the USA continues to mount higher levels of positive tests and hospitalizations. For business owners it’s been a real struggle and, there was even the report of a long time trade house filing for bankruptcy last week.
The market has been a sale as it gets closer to 1.05 and a buy as it comes down to .9500 basis Sept. Feels like we might see some more of that in the coming days.
We’ve been able to get into warehouse (Continental) some really nice lots of Colombia Supremo 17/18. We’d love to send you samples. We’ll have some Sidamo Naturals arriving on the 21st of July. Please take a look at the list that comes with this message and see if there are any coffees you might like us to send you a sample of.
We’d love to help, just tell us how.
The Armenia Team