Traders plan coffee shipments to boost ICE stocks
Major traders plan to deliver hundreds of thousands of bags of Brazilian arabica coffee to ICE exchange warehouses. The shipments aim to replenish stockpiles sitting near 26-year lows and help weigh on benchmark prices.
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Traders are planning to deliver hundreds of thousands of arabica coffee bags from Brazil to ICE exchange warehouses to capitalize on low stockpiles. The move targets exchange inventories that have sunk to 26-year lows, sustaining prices near $3 per lb. Rising deliveries could weigh on prices as surplus coffee reaches certified depots.
