Good Monday to our friends,
Another very nice Spring day here. Brood X cicadas have started to make their appearance and make it they shall with a billion expected this year. They are welcome to enjoy a cup of our hot Colombian Organic with us today.
Interesting week again last week with a breakout day on Monday taking us to the high for the week. Then a steady decline lower. Range was 15350 on Monday down to our low today, so far, of 14745. That low just holds the 21 day moving average and keeps specs in buy mode over all.
The COT issued on Friday May 21 for trading as of Tuesday May 18 showed long funds sold 284 lots to be 57,703 lots long and short funds sold 422 lots to be 17,473 lots short, so overall for the week of the report funds sold 706 lots. We would expect that so far until today, they’ve sold a little more
The Brazilian Real begins the week 5.3256 that’s a little weaker than this time last week. The Colombian Peso is at 3744.7.
ICE stocks stood at 2,049,936 the highest level of the year, with 1,106,502 bags of Brazils. There are 103,575 bags pending grading.
We’re hoping for a little lower perhaps down to 14600-14500 where we would again like to buy the market.
We have some RFA Guatemala and Brazil about to arrive at the port. We have a really nice RFA Honduras in the warehouse now.
If we can be of help today, please let us know.
All the best,
The Armenia Team
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