German coffee decline

27 Nov, 2005

Purchasing by German coffee roasters was depressed this week by the closure of US markets for the Thanksgiving holiday and by the transfer of positions to the March contract, traders said on Friday.
"The US was basically rounding off business on Wednesday and with the New York market closed on Thursday and Friday the market was blind for much of the week," a trader said.
"This meant a lot of players decided to stay on the sidelines." Differentials were largely unchanged on the week.
A slightly firmer trend was noted in Vietnam robustness, largely because of a lack of origin selling.
Vietnamese harvesting was making a sluggish start and sellers were unwilling to trade at current low prices, one trader said.

Read Comments