Traders are preparing to deliver about 300,000 bags of Brazilian arabica coffee to ICE exchange warehouses, where certified stocks have fallen below 220,000 bags, their lowest level in 26 years. The ICE Futures U.S. arabica contract, a global pricing benchmark, briefly rose above $3.50 per pound in July and remains near $3 despite expectations of a substantial supply surplus in the 2026/27 season. Olam is seeking to certify 150,000 to 200,000 bags for the December futures contract, while Louis Dreyfus Company is making similar arrangements. Exchange stocks are closely watched because rising inventories indicate greater availability for delivery and can trigger selling by algorithm-driven funds. Brazil’s August coffee exports to Belgium rose 245.3% year over year to 31,500 metric tons, or more than 525,000 60-kilogram bags. More than 62,000 Brazilian bags have reached exchange warehouses and await grading and quality checks, although the quantity that will ultimately be certified remains uncertain. Weather risks and harvest delays could still keep prices volatile.