Yesterday, #Arabica #certifiedstocks dropped an impressive 70k and the #calendarspreads are going bananas. Calendar spreads in Arabica #coffeemarket are notoriously boring (unlike #Robusta), and yet this year spreads have been ANYTHING BUT BORING. #Spec interest in the spreads has driven a lot of the #bullish #price action there but this has been instigated by some very real #fundamental concerns. In this article, we will look at what the calendar spreads are, why they refl

After last month's surprise GCA stocks report, many of us in the #coffee industry were watching closely this week's report, because the implications on price could be huge. What we saw was on the surface a relatively ho-hum number, but I would contend it was actually fairly #bearish. In the article that follows I explain how I interpret this report generally, and why this week's report was bearish for price. To explain the GCA stocks number from Friday, we will first look at