Robusta coffee tendered against the expiring March contract on NYSE Liffe in London totaled 74 percent of all the exchange’s certified stocks.
Original tenders totaled 14,962 contracts, or 149,620 metric tons in the first nine days of delivery notices, according to data on the exchange’s website. Retenders totaled eight lots, or 80 tons, according to the data.
Robusta coffee stockpiles with a valid grading certificate in warehouses monitored by the NYSE Liffe stood at 202,410 tons as of March 5, exchange data show. NYSE Liffe updates inventory data every two weeks. Inventories have been falling since reaching an all-time high of 417,420 tons on July 11.
The first notice for the March contract was March 1, when holders of futures must notify counterparties whether they intend to accept physical delivery. The notice period will run until March 30, when the contract expires.
Robusta coffee for May delivery was down 0.7 percent to $1,973 a ton by 4:49 p.m. in London.
Source: bloomberg.com/news/2012-03-13/robusta-coffee-tenders-reach-74-of-nyse-liffe-certified-stocks.html
Robusta Coffee Tenders Reach 74% of NYSE Liffe Certified Stocks
