Good morning and happy sunny Monday
I hear rumors that we might get consecutive days without rain as we come to the end of the week, not sure I believe it at this stage, but we live in hope, as we hope things are well with you.
As I write this, the market is once again making new lows, as funds continue to pile on. 90K short and no signs of letting up – just a little profit taking from time to time with no real changes in their positions. Large and in charge.
Origin has flat out stopped following the market lower meaning diffs are widening some for shipment/replacement values. Still, it seems like there’s plenty of coffee at destinations, keeping roasters that need coffee covered, at least for now, at better than replacement diffs.
In the end, it’s not been difficult to source most coffees even into the decline.
We have some Colombian Supremos just arrived in New Jersey – waiting on Continental to pick them up and strip the containers, hopefully, today. Fresh Antiguas, Yirgacheffe, Sumatra, Tarrazu, and a small lot of RFA Brazil just went into the warehouse as well.
We’re here to help if you need us.
John and Joe