Happy Monday,
Hope you’re enjoying the first day of Fall. It’s a very nice day here in the New York area. Sitting here reading the news drinking a nice cup of medium roasted Colombian coffee, and now we’re ready to send this little blog post to you, our friends and customers.
Upside resistance just above the 1.0500 level proved too much for the market and back down it went. Buying from small spec dried up and some origin selling intensified, as again the Brazilian Real came under pressure back to the 4.18 level.
Still it’s really interesting to note that though we’re seeing the Real make some serious moves in both directions, finding offers of Brazilian coffee, especially nearby, still very stiff in differential. Some think it’s a reflection of a well sold crop, and non-aggressive sellers at the farm level, who’ve sold what they had to and now believe the market has a chance to work higher. Colombia too, not all that aggressive to sell coffee at these levels.
The COT shows that the fund bought back over 10K lots of shorts, showing now just about 35+K position, much smaller than the recent peak. We make support right here at the .98.00 level in Dec, then .9500, while if this market wants to mount any kind of rally it needs to move strongly through 1.0600.
Notable this week, Sunday September 29th is International Coffee Day. Many retailers will have specials to help celebrate the occasion.
We will quite contentedly be drinking the Roast Masters contest coffee, our special Ketiara Ipak Gayo. We sent out the boxes of coffee for the contest and if you are a registered participant in the contest, you should have received the box that Joe, John C and Izwandi worked very hard on to get to you. Thanks to our partners P.T. Ketiara who sent us via courier, 3 full export bags of excellent coffee for the competition. Watch our social media if you would, for some behind the scenes information on the coffee. We’re so looking forward to seeing how the roasters in the competition use this coffee.
That leads us to a reminder and invitation to join us at the Metropolitan Pavilion, 125 West 18th Street in New York City on October 11-13, 2019. For those who remember, we’ll be in the same spot we were in last year. This year, you can meet our new teammates, who joined us from Amcafe just after last year’s Festival.
If you’d like access on our account use the code: ARMTRD, and if you need help of any kind regarding the show, our Joe Coniglio would love to help you in any way he can. Again, this year, he is coordinating the show for us.
How can we help, we’d love to know?