The market last week tapped $1,845, its highest since November 2017, partly supported by dwindling certified stocks
. However, dealers said the market's advance above the $1,800 mark had attracted heavy producer hedging on Tuesday, which knocked prices lower and encouraged follow-through selling.
more cases than any other shop and had about 150 when we interviewed Weiss in February.
ICE Certified stocks
are currently at their lowest level in 10 years, closing out December at 1.245 million bags.
* MACtac has enhanced its Indie line of certified stocks
Nearly 35,000 bags of coffee (about 8.14 percent of the total New York certified stocks
) were damaged when warehouses flooded, and containers were also damaged.
Through MACtac's Precise Program, label converters can expect next-day shipping of Indie certified stocks
in quantities customized to suit their needs, reducing scrap and maximizing efficiencies.
We still have a good crop, although it is impossible to put a number on it yet, but I think there will still be close to 50 million bags of coffee out of Brazil." A much clearer picture would emerge by January, he added, when the extent of the drought and its effects would be known, and factors like the level of certified stocks
were able to be taken into account.
On December 14th, the local coffee industry got a badly needed shot in the arm, when the New York Board of Trade lifted its moratorium on the issuance of delivery notices against certified stocks
in six licensed stores at the port.
Some roasters took delivery of Exchange certified stocks
, further reducing stock levels.
When the coffees are finally all picked out of the certified stocks
there will be a lot of coffee left over which will at best be characterized as marginal.