Good morning and happy Monday to you,
It was so nice to see so many friends at the annual Green Coffee Association Holiday Party in NYC last Friday. Some we see every year, and some come from a long way away. Always it’s good to catch up and share a drink and a smile. Sometimes we note who we haven’t seen as well. If you didn’t come, know that you were missed, and you know who you are.
Along with this report this week we share one of the many photos, coffee porn we call it here. Pictures of trees in Brazil seemed to be all the rage last week. Most of them, like this one, chock full of developing cherries. It’s traditionally early to see the trees so full of cherries at this stage of development. A good friend, who goes to Brazil every year, reminds me that early crops are big crops. Not sure that anyone would argue at this stage.
Despite all the coffee in Brazil getting it shipped remains a challenge. Spoke with more than a few who shared stories of delays there and in Colombia.
Technically our expectation is that the downtrend is apparently ensconced in our market here and a test of the lows below 1.00 is coming. Lighter volumes but open interest is up, and it looks like funds adding to short positions.
Two lots of fresh Supremo 17/18 is now in Continental. 1 more coming, as are 110 bags of Scr 18 Supremos. A fresh box of Sumatra Mandheling is afloat with ETA just after Christmas. Antigua and Tarrazu are instore. We’ve sold a bit of our Yirgacheffe Gr 2, we have a part lot still there in regular bags and another partial in Grain Pro.
Please let us know how we can help you!
The Armenia Team