It’s a rainy Monday during what has been a rainy August here in the Northeast. Hope you’re having a good beginning to the work week.
Last week saw the market once again fail to maintain gains and by the end of the week we were back making lows and extending them this morning. Part of this is just the complete lack of physical activity in the market currently, not unexpected this time of the year, but it’s not helping. Stronger dollar also taking its toll as is an awful lot of uncertainty in the trading world in general.
Colombia continues mostly quiet with asking prices above where trade feels they need to be. Brazil exports starting to pick up as they should, but exporters seem to be concentrating on covering shorts rather than adding to sales. Peru in the market trying to find buyers, falling market is not helping much, all origins feel that way.
When’s the last time we were sub 100? Feels like we might be heading there soon. Funds still with record shorts but nothing to challenge their conviction to stay that way.
We have some Colombian Supremos about to arrive today or tomorrow in the port. Small lot of RFA Certified Brazil 2/3 just arrived in Continental. We have some nice fresh Mandhelings, Yirgacheffe, Colombia Excelso in Continental now (what a nice blend they’d make).
Joe and I are here to help if you need us.
All the best