Course 20 of 20 · Coffee Desk Academy

Merchant & Roaster Simulation

Stage E, Resilience and integrated desk practice. Level 10 of 10.

Running a full desk under time pressure and reconciling origin purchases, customer fixations, futures positions, currency hedges and margin cash into one defensible position and profit statement.

126 chapters · 12 modules · every chapter one 8 to 10 minute explainer · builds on: Course 14, Course 16, Course 18, Course 19

Enrol or enquire See the 126 chapters
How a chapter is delivered

One chapter is one idea taken to the point of use

Each chapter covers one idea to the point where you can use it, and comes two ways: a narrated explainer, and a deep dive audio discussion of around thirty minutes that works the same material at depth.

Self-paced throughout, and the same chapters can be taught as a cohort. Chapters run in order: each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

12 modules · 126 chapters

Open any module for its full chapter list, in teaching order.

M0 The Coffee Book You Take Over and the Statement You Must Sign Ch 1-11
  1. Taking the Merchant's Trading Seat for One Coffee Crop Year
  2. Why a Book That Does Not Prove Itself Fails However Good the Profit
  3. The Origin Purchases Committed Before You Sat Down
  4. The Roaster Contracts Your Predecessor Signed
  5. Futures and Money Legs Standing Outside the Desk's Own Records
  6. The Pricing Deadlines You Inherit and Did Not Negotiate
  7. The Asset Schedule Date You Cannot Move
  8. The Draft Statement Handed Over for Your Signature
  9. Hedge Ratios, Fixations and Claims Taken as Already Held
  10. The Clocks Already Running When You Arrive
  11. The Four Fronts Any Statement You Issue Will Be Attacked On
M1 Six Proofs a Coffee Position Statement Has to Carry Ch 12-21
  1. Publishing the Reconciliation Screen Before Anything Is Traded
  2. The Bag Proof: Bought, Sold and Still in Store
  3. The Unpriced Proof: Open Tonnage Against the Lots Behind It
  4. The Two Halves Proof: Exchange Result Apart From Differential Earned
  5. The Money Proof: Every Flow Inside Exactly One Leg
  6. The Period Proof: Variation Cash Beside the Mark It Answers
  7. The Invoice Proof: Outturn and Allowance Written Back
  8. The Order the Six Proofs Must Be Run In
  9. Submitting a Statement With the Profit Column Covered Up
  10. One File Named as the Only Record That Counts
M2 Running the Proofs Over the Statement You Inherited Ch 22-33
  1. Rebuilding the Draft Statement From the Tickets Behind It
  2. The Robusta Cover the Desk's Records Never Carried
  3. The Local Currency Forward Entered by Two Offices at Once
  4. The Open Balance Treated as Though It Were Priced
  5. Variation Cash Received in One Month and Booked in the Next
  6. The Weight Allowance Agreed and Never Written Back
  7. The Premium Agreed Basis One Month and Covered in Another
  8. Six Breaks Ranked by What Each One Hides
  9. Closing Each Break Without Opening a Second One
  10. The Statement Restated, and the Profit That Was Never There
  11. The Illustrative Opening Book and the Risks It Excludes by Name
  12. Sealing the Repaired Book as a Version of Record
M3 The Week Four Deadlines Land Together Ch 34-44
  1. Four Clocks Running Through One Trading Week
  2. The Roaster's Final Pricing Date Falling on Friday
  3. An Origin Offer That Expires Inside the Hour
  4. A Margin Call Due the Same Afternoon
  5. The Vessel Rolled and the Shipment Window Closing
  6. Sequencing Four Decisions When Two Want the Same Cash
  7. Refusing the Roaster's Request to Extend Its Pricing Deadline
  8. Pricing an Open Balance Under the Contract's Lapse Provision
  9. What the Week Did to Each of the Six Proofs
  10. A Defensible Book at Friday Close, Produced Under Pressure
  11. Graded on the Week's Sequence With the Market's Next Move Unknown
M4 Buying at Origin Against a Book Already Committed Ch 45-54
  1. The Buying Budget, the Facility Ceiling and the Bags Still Owed
  2. Allocating One Season's Buying Across Three Origins
  3. Paying a Cooperative in Local Money and What That Opens
  4. The Advance Released Before Any Harvest Was Counted
  5. The Parcel Declined Because This Book Could Not Fund It
  6. Entering One Purchase So the Bag Proof Survives It
  7. The Money Leg Placed in the Same Hour as the Purchase
  8. Two Origins Combined Into One Money Hedge for Simplicity
  9. Cover Placed Against Coffee Not Yet Approved
  10. Marked on the Origin Allocation With the Crop Outcome Concealed
M5 Pricing Decisions Inside a Book That Is Already Running Ch 55-64
  1. The Open Balance Carried Into the Second Month
  2. A Customer Instruction Arriving With Minutes of the Session Left
  3. The Instalment Too Small to Price and Too Large to Drop
  4. Confirming Both Sides of a Transfer of Exchange Lots
  5. An Unpriced Purchase and an Unpriced Sale That Do Not Offset
  6. Auditing Which Open Side Stands Short and Which Stands Long
  7. The Pricing Day That Moved the Cover and Not the Bags
  8. The Morning Comparison That Found Two Lots at the Clearer
  9. Three Pricing Months in One Contract, and the Result Attributed
  10. One Pricing Week Proved Out Line by Line, Illustrative
M6 The Roaster on the Other Side of the Table Ch 65-73
  1. Reading a Roaster's Cover Book Without Sitting in Its Seat
  2. Predicting When a Roaster Will Price and When It Will Wait
  3. The Forward Purchase Programme Offered to You, Read Backwards
  4. The Ceiling the Roaster Wants Written Into the Programme
  5. Where a Granted Ceiling Lands on Your Own Statement
  6. The Traceable Lot Whose Premium Sits Outside the Exchange
  7. What Agreeing to the Programme Does to the Six Proofs
  8. The Programme You Decline and the Grounds You Record
  9. Positions Held Against This Roaster, Stated From Your Own Seat
M7 First Close: One Position, One Profit Statement Ch 74-84
  1. Closing the Quarter Against the Screen You Published
  2. Attribution Divided Five Ways Without Overlap
  3. The Exchange Result Separated From the Premium Bought and Sold
  4. Carry Charged to the Lots That Actually Caused It
  5. The Money Result Stated Once and Only Once
  6. Variation Cash Reported as Cash and Not as Result
  7. Three Defensible Profit Figures From One Quarter
  8. The Residue That Will Not Explain Itself
  9. Signing a Close With One Item Still Contested
  10. Publishing the Quarter Figure to the Lender and the Board
  11. Examined on the Close Before Any Dispute Resolves
M8 Event: The Frost Week Run Against the Six Proofs Ch 85-95
  1. Event: A Frost Report and Five Counterparties Calling at Once
  2. Why the Week's Paper Loss and Coffee Gain Fall in Different Periods
  3. The Position File Going Stale Inside an Hour
  4. Executing the Funding Playbook Without Losing the Audit Trail
  5. Recording Why Cover Was Reduced So Attribution Can Tell Later
  6. Forty Transfers in Two Days and the Confirmations That Lag
  7. The Differential That Moved While the Benchmark Was Limit Up
  8. Re-Running the Six Proofs in the Middle of the Week
  9. Issuing a Mid-Quarter Statement Rather Than a Stale One
  10. The Week's Result Attributed While the Market Is Still Moving
  11. The Decisions the Week Forced and the Record Made at the Time
M9 Event: The Cover That Outlived Its Purchase Ch 96-105
  1. Event: The Sample Rejected and the Cover Already Placed
  2. Tracing the Oversized Money Leg Back to Your Own Decision
  3. Why Combining Two Origins Looked Prudent at the Time
  4. Unwinding Cover That Now Stands Behind One Purchase Only
  5. The Cost of the Shortcut, Held Apart From the Market Move
  6. Event: The Outturn Claim the Roaster Finally Quantifies
  7. Writing a Settled Allowance Back Through Three Months
  8. Two Breaks in One Month and the Order to Close Them In
  9. Rewriting the Money Rule So Two Origins Cannot Share Cover
  10. Disclosing a Self-Inflicted Break Before a Reviewer Finds It
M10 The Restated Close and the Number That Has to Come Down Ch 106-115
  1. Reopening the Published Quarter After the Claim Settled
  2. The Honest Figure Is Lower Than the One You Published
  3. Defending the Lower Figure to the Head of the Business
  4. The Extension You Refused, Priced Months Afterwards
  5. Confirming the Refusal Was Right on What Was Known Then
  6. Bounding a Restatement So It Does Not Reopen Every Lot
  7. The Six Proofs Run Across Two Quarters at Once
  8. One Crop Year Closed Into a Single Position and Profit Statement
  9. The Front Page and the Proof With Least Headroom
  10. What Signing the Year-End Statement Makes Irreversible
M11 Defending the Crop Year, Front by Front Ch 116-126
  1. Auditing Your Own Page the Way a Stranger Would
  2. Following One Colombian Lot From Advance to Final Invoice
  3. Reading Every Open Line for Inverted Direction
  4. The Concern You Logged and Never Wrote Into a Contract
  5. Two Pages for Whoever Takes This Coffee Book Next
  6. The Panel Takes the Bag Proof and the Container Nobody Could Place
  7. The Panel Takes the Open Tonnage and the Balance Nobody Declared
  8. The Panel Takes the Money Legs and Your Own Shortcut
  9. The Panel Takes the Cash Periods and the Settlement You Moved
  10. The Three-Crop-Year Price View You Refuse to Put in Writing
  11. What One Simulated Crop Year Could Not Put Under Strain

The brochure gives each of these 126 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 20 of twenty

It stands alone, and it is also the entry point to the Coffee Desk Academy pathway.

Enrol or enquire See the whole pathway