Good morning and happy Tuesday.
What an amazing few days it’s been. Friday brought terrible weather across the country, the weekend brought Christmas and the end of Hannukah, the industry got off Monday and will get off again next Monday, and so it’s a happy Tuesday to everyone.
Trading was quiet last week and will probably be quiet this week owing to the shortened weeks and folks travelling in this crazy weather we’re having. Brazil and Colombia remain relatively quiet as do the buyers. In other words, it’s just quiet.
Funds were buyers with long funds adding 876 lots to stand at 27,288 lots and short funds also buyers of 3185 lots and now stand at a still high 43,717 lots.
We’re getting ready for the index fund rebalance that will come in early 2023 and should bring a fair amount of buying to the market.
ICE warehouse stocks stood at 787,005 bags with 279,504 bags pending grading. Brazilian Real trading at 5.28318 about middle of its recent range, Colombia Peso at 4754.
Expecting more consolidation into lighter trading this sandwich week between the holidays. Remember as above next Monday is a holiday for the trade and no one will be open so plan accordingly.
Can we be of help today?
All the best,
The Armenia Team