My usual greeting is “good morning and happy…” but today is, of course, September 11th and on this day we remember back to 2001. From the events on ground zero in NYC to those in Washington, DC and over Pennsylvania we remember back to that day and the 2977 folks whose lives were taken from us. Our hearts, our thoughts, and our prayers are with the family and friends of those affected on that day. We will never forget the events of that day, and the strong emotions it brings to us.
Last week in coffee very similar to recent weeks. We’re rangebound in Dec for the time being, with funds continuing to hold an historically large short position and seeming, not concerned about it at all.
Shipping delays in both Colombia and Brazil are being reported. Difficulties shipping coffee from Buenaventura means Colombia shippers have added costs if they want to move their coffee to the ports that still work. Finding space once it gets there is problematic, as it is in Brazil. Coffee competing with other commodities such as soybeans for space on vessels. Brazil being called upon to step up shipments of soybeans as trade wars are fought.
With the market hovering on both sides of $1.00 origin is not at all enthusiastic to sell coffee or meet buyers differential expectations. Roasters seem to be fairly well covered through at least 2018. Trade might be scrambling to cover those sales.
Sumatras, Tarrazu, Antigua, Yirgacheffe nice fresh in the warehouse ready to send you samples should you like? Please let Joe or I know if we can help you.
All the best