Good morning and happy Monday to all of our friends,
L’shanna tovah to our friends about to celebrate a New Year. And, although today is the day after National Coffee Day here, we in the industry know every day is a coffee day for us! Hope you enjoyed something special.
Last week’s trading had a slight upward bias, able to hold support at .9800 and rallied a bit before just moving sideways the last 2 days of the week. A bit of a pennant formation now formed on the Dec chart. It will set up support just around .9950 on the downside and 1.05ish on the upside, though you’d really like a close above the 200-day ma currently at 1.0560.
Weather continues to be watched in Brazil, which has gotten a bit wetter, but needs to stay that way for a bit. The COT shows the fund just over 45,000 lots short, about as expected. I saw a report ask the question, “what’s going to motivate them to change that anytime soon”, and I’m not sure we have an answer really. There are few challenges to access coffee at the moment. We’re not saying that as the market has worked lower, diffs have not gone up as producers don’t follow the market lower with their prices, but coffee is available if you’ll pay the price. Moisture in Brazil could be a catalyst? Time will tell.
We’re starting to prepare for the New York Coffee Festival where we’ll be in booth A22, at the end of next week, Oct 11-13th. You can use our code “ARMTRD” for free access if you’d like to come and visit with us and attend the Festival (it’s really wonderful). All of us will be there at one time or another, coordinate with your favorite trader here to make sure you don’t miss them. We will have a small amount of the Ketiara Ipak Gayo Sumatra Mandheling that won our internal competition to be used as the coffee in the 2019 Roast Masters Competition that we’ll bring with us to hand out to the first folks who ask for it. There isn’t a lot so If you’d like some, come see us. It’s really an excellent coffee and we’re sure you’d be glad you stopped by for it. We’re very proud of our John Coyne, who has been selected to serve with the Judges at the competition, and we’re anxious to see and hear how the roasters use this coffee.
New arrivals for us include FTO Colombia and Guatemala. We’ve got a very nice RFA Certified Sumatra Mandheling just into Continental as well, and some fresh Vietnam Wet Polished Robusta. They join our Brazil 17/18, Colombia Excelso and Supremo and a really nice RFA, Costa Rica Tarrazu and Guatemala Antigua and SHB. We have a nice commercial Sidamo 4 in Continental and another lot of Sidamos we bought because we loved the PSS that arrived on the 23rd but hasn’t been brought over to the warehouse just yet. Our course we have conventional and FTO Sumatra (Izwandi would have it no other way), FTO Honduras Marcala, Nicaragua SHG, and Mexican Chiapas. We also have some lovely PNG Sigri AA, and speaking of AA’s we have the Kenya variety as well, as well as some AB’s as well. Round it off with some Panama SHB “Indian Baru”.
We’d love to help, how can we do so?