Good afternoon and happy Monday,
Another roller coaster ride of a week saw the market make a high on Thursday up at 22810 in July on over 30,000 lots of volume. Since then, the market has given that whole advance back. This was a quick reaction to the market holding the 200-day moving average at 218.50.
According to the COT issued for trading as of Tuesday April 19 (a short week with a holiday Friday the 15) long fund sold 4265 lots and short fund had sold 3259 lots and conversely the trade was the best buyers and the ones who held the important support.
Contributing to the roller coaster was the dollar – and by today a strong dollar meant a weaker Real (4.91926) and Colombian Peso (3943), which didn’t help the bulls. On Friday, 355 notices were issued against the May contract, 327 Honduras and 28 Peru’s both in Antwerp.
The 200-day moving average is down to about 216.50 this morning and continues to mark important support. We remain friendly to the market as long as that holds.
Our women’s centered coop FTO Sumatra Mandheling are now in the warehouse and ready to sample/deliver. We’ve got some wet/polished Vietnam Robusta for you as well.
Please let us know if we can be of help today
All the best,
The Armenia Team