N.Y. Board of Trade halts coffee deliveries at port

[steve2470]

http://futures.fxstreet.com/Futures/news/afx/singleNew.asp?menu=economicnews&pv_noticia=1125351425-e04f0f08-34019


http://www.afxpress.com


SAN FRANCISCO (AFX) -- The New York Board of Trade declared a "force majeure" on coffee deliveries at the Port of New Orleans due to Hurricane Katrina. That means deliveries won't be made until a date to be determined by the board. And as of Aug. 30, no further delivery notices may be issued for coffee to be delivered in the Port of New Orleans, NYBOT said, "until the conditions of the warehouses and coffee located there can be determined." September coffee closed 92.6 cents a pound, up 1% Monday, ahead of the news

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I feel for you coffee drinkers in New Orleans.

[DoYouEverWonder]

1. It won't be just New Orleans whose going to have go cold turkey

NO is a major port for the whole country. It all depends upon how much coffee comes through there, quite a bit I would assume. Large parts of the country could soon be facing coffee shortages. This could be fun.
:sarcasm:

[dweller]

2. that's the 2nd time today

i've read that term 'force majeure' here.

1st about natural gas i believe?

wha's up with that?

dp

[petronius]

10. It's like "act of God"

Literally, it means 'superior force'. In business terms, it refers to a part of a contract or agreement that limits the liability of a party if they are unable to fulfill the contract due to events beyond their control. I assume that in industries like coffee or petroleum it is a governing entity (like the NYBOT) that gets to declare when force majeure conditions exist, thereby triggering that particular contract clause.

[Ready4Change]

3. What! No COFFEE?

Who do we have to go to war with to secure my right to caffeine! Who?

:P

[NVMojo]

4. haha! wait til the repuke coffee drinkers get wind of this! We may see

some unholy alliances made over coffee!

[Skink]

5. New Orleans controls the coffee trade. They have there own Coffee museum t

:woohoo:

[catnhatnh]

8. Them 'Nawlin's folk are CRAZY....

...I heard rumors of a weird satanic rite involving cauldrons of boiling water and sumthin' called "CHICKORY"...

[Skink]

11. That's just for tourists.....

[KG]

6. coffee hits 3 bucks a gallon!

[Bluebear]

7. 'We're here at Brennan's and replaced these diner's coffee...

with Folger's."

Anyone remember that old ad?

[Ready4Change]

9. Yah. And people couldn't tell the difference?

What the hell was wrong with Brennans coffee?

[Ready4Change]

12. Time for a SanFran Coffee Party.

Quick, everyone dress up like indians!