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3-6-2023 Armenia Coffee Report

Good morning and happy Monday,

We’re seeing signs of Spring here in the Northeast. Nicer weather every day. More sunshine. Want to share an Organic Honduras with us?

The market continued to consolidate from the high up near the 200 day moving average near
19250. Volumes have not been big. Origin seems to participate a little more not wanting to miss these prices which are considerably higher than the recent lows down in the 140’s. Brazil still not much of a player but Colombia seems to be more and more aggressive trying to move some quantity of
coffee. Honduras is behind both in sales and in shipments.

ICE stocks continue to decline down to 774,646 as that coffee continues to have value to the market especially against where Brazil is offering right now. There are 53,434 bags pending grading. Brazil Real 5.17420 and Colombian Peso 4739.6 both have not changed much.

We got the Commitment of Traders report back and last week it showed spec buying was the feature we thought we’d see. Again this week. Long spec sold 2632 lots and is now long 20,491 lots while short spec bought 6373 lots and is down to a more traditional level, 36,837 lots short. Trade/origin was the offset selling 2716 lots net/net.

The market now appears to be in the lower end of a 17100 to 19100 range. If the market would come down a bit more we’d be buyers against the support.

We have some fresh Colombia Supremo in the warehouse and a very few bags of EP10. How can we help today?

All the best,
The Armenia Team