FUTURES MARKETS – Certified stocks still down

Certified Robusta coffee stocks at London’s Liffe as of 31st May 2010 were down 7,250 tons at 225,551 tons.

This is the 18th consecutive draw, since the 5th of October last year the stocks have reduced by 15,839 tons or 41.5 percent. Non-tenderable stocks dropped by 39 lots to 60 lots. Once again, there were no fresh gradings during the two weeks to counteract the decline. The main draws were in Antwerp -343, Trieste -284, Rotterdam -55.

The stocks continue to remain an attractive source of coffee. The average rate of withdrawal now stands at 879 lots per fortnight. It is perhaps too early to tell if the demand is starting to wane, but this draw was significantly less than the two previous of 2,179 and 1,402 lots respectively.