Good morning and happy Monday
Another wet Monday morning here in the Northeast, but it’s OK as we are surrounded by fall colors. The best part of living in this area is we have, usually, 4 distinct seasons, each with their own character. Changes things up a bit, we like that.
Very interesting week technically. Coming out of the Brazilian Presidential election, the market gave back a little as the reality of a Bolsonaro presidency took hold, the currency again became a little more volatile. The move down was quickly reversed, and a little gap was formed that was closed this morning because as we know, nature abhors a vacuum. This level around 118-120 becomes important now if it can hold we might get a little more upside, if not it will probably convince specs to sell a bit.
The higher market brought a little better differentials from Colombia and Brazil and business was reported. ASOEXPORT took place in Cartagena and a friend tells us the tone was optimistic that after a tough year, this year might prove to be a bit better for producers and exporters in Colombia. That friend tells us he expects the new crop to fall in around 13 million bags, a little lower than some others are predicting. Sintercafe is next starting on the 7th.
We sold out of fresh Colombia Excelso (except a broken box in Continental) and Supremos, except for a fresh arrival in Norfolk and some lovely Screen 19 in NJ. More are coming – we’re waiting on steamer advices. Please check the offer list there are some new coffees owing to our merger with Amcafe.
This is the 2nd week of our new format. We’ve received some constructive criticisms on how to make this better which we will implement, so you will see changes over time. We’re trying to improve the way we communicate with you so please, if you have any comments on how we could do that, please let us know.