Happy Christopher Columbus Day! We send our heartfelt prayers to everyone directly and indirectly affected by the horrible attacks in Israel over the weekend. More rain for half the weekend here in the northeast seems like the new norm. Some hot fresh Colombia Excelso is exactly what the trading desk is enjoying this morning.
Last Friday’s trading took us to a new 28-month low, overnight a bit higher and a generally positive mood in commodities seems to be a nice positive technical development after seeing those levels.
COT as of Tuesday, October 3rd, released Friday, October 6th showed long fund sold 221 lots to stand at 32,323 and short fund sold a substantial 6,329 lots to stand at 54,733 lots short.
ICE stocks were unchanged at 442,222 bags with 8,365 bags, all Brazil’s, pending grading.
The Brazilian Real continues to weaken on the week out to 5.1637, US interest rates are not helping. The Colombia Peso was also weaker at 4326.50
December contracts support is at 144.45, with resistance at 147.50 /148.95 / 149.90.
We have some very fresh arrivals in warehouse we would be happy to sample. Just arrived from Colombia we have Excelso, Supremo, and a lovely FTO from a women co-op all cupping nicely. We also have an Organic Ethiopia Yirgacheffe from our friends Dumerso also another lovely women co-op. 1 lot of FTO Peru from a top shipper to round out the fresh arrivals, let us know how we can help.
All the best,
The Armenia Team