The Green Coffee Association released the USA warehouse data for July showing a decline of 6,849 bags. Bulls will see this as bullish since a year ago stocks rose by 279,052 bags. The year before July stocks fell by 8,600 bags. There is a tendency for July stocks to increase but fall from August onwards. While total stocks slipped by a small amount, certified stocks in USA warehouses had declined 24,466 bags last month and therefore non-certified stocks increased by 17,617 bags in July in a period of weak global exports. There are supply chain adjustments that are ongoing and I donít see this as necessarily proof positive that demand is strong. There are still large segments of the industry that are hurt even as some of the economy started to open. With stimulus funding not yet approved and other benefits now exhausted, the impact will become more evident on how spending curtailed.
https://t.me/jganesconsulting/121 direct link to the post
her chat for the discussions https://t.me/jganesconsultingschat
« Back to index