coffee ICE stocks rebound! #ChartOfTheDay

In the whole XXI century, there were no lower certified stocks in ICE warehouses than at the end of October. Now we have a rebound! This article is part #ChartOfTheDay series.

Coffee market situation

ICE Certified Stock was one of the reasons to keep coffee prices high, despite good weather forecast in Brazil and recession fears, that should lower coffee consumption around the globe. On 28th October 2022 ICE Certified Stock was 384 795 bags. It was almost 80% lower than the same date in 2021! A small (a little bit over 3k bags) rise was a week later, with +66k bags more added in the week ended in 11th November 2022! We are still almost 75% lower than in 2021, but there are over 130k bags awaiting certification plus around 100k bags en route to warehouses…

If this will be ongoing situation for couple next weeks, we should see a further price drop of coffee futures.

Below there is a chart with past 6 months of ICE Certified Coffee Stock: