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Re: Nice work and thanks
Tend to echo your sentiments HKNUZ. We have been surprised at the amount of Brazil SW that has made its way into the terminal market and grading room. Question is if any of that is to be actually delivered or not. That said, isnt the limit 500 lots for delivery? ie wouldn't it take an eternity to deliver those certificates in?
Aside of the stocks, the other point to make is that until the harvest is delivered, there is counterparty risk to receiving coffees on the 21/22 harvest that are significantly negative mk/mkt. Hopefully we shall remove some of these risks ( and free up balance sheets, cash flows, hedge flows ) once the brazil harvest is in bigger swing.....