Good morning and congratulations to the city of Tampa. 2020 Stanley Cup champion Lightening, 2020 American League Champion Rays took the Dodgers to game 7 of the World Series, and now the Super Bowl champion Bucs. Heck of a year!
Coffee continued it’s sideway push last week, and the COT tells why. The Friday report issued for trading as of Tuesday, Feb 2nd showed funds 42,550 lots long (+194) and 19,946 short (-153) meaning funds didn’t do a whole lot in the period. Origin and roaster were bigger players, as was the beginning
of folks starting to roll their March positions into May.
The market remains stuck in this 120/130 range until it isn’t. ICE warehouse stocks continued their climb, fueled by large increase in Brazil. Today of 1,652,245 bags include now 643,956 bags of Brazil, and climbing. There are 107,152 bags pending certification as we write this.
A reminder that next Monday, Feb 15, 2021 is the Presidents Day Holiday here in the USA. Our offices, warehouses, and piers as well as trucking companies will be closed. Let us help you work around this if we can.
We’ve had some nice new deliveries come into the warehouse, please check the offer list that accompanies this report and see if there is anything that might interest you.
All the best,
The Armenia Team