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Weekly Short Report Terra Forte

Dear friends,

Until yesterday correction, market was trading with better volumes on the internal market at proud prices. Producers released better volume and allowed exporters to increase coverage in order to get December shipments ready. Normally producers would slow down sales due to tax reasons.

Good demand for Jan to July shipments at tighter differentials. Internal roasters showing good appetite mostly for Conillons and low grade Arabicas however for the later very selective due to “broca” limits.

Fundamentally there are many hints showing that situation has got tight. Differentials to the roof, low shipments from main origins, lack of good qualities on the spot market and a not clear picture of next 18/19 crop.
All points above have not been enough to impede investment funds to heavily sell the market.

Weather has been good this week with good coverage.

November shipments probably will end up slightly higher than October at circa 2.9 million bags.

Wishing you a very nice weekend

Terra Forte Trading Desk

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Weekly Short Report Terra Forte
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