Coffee Market Report
| The latest Commitment of Traders report from the New York arabica market has seen the Non-Commercial Speculative sector of this market increase their net short sold position within this market by 22.6% over the week of trade leading up to Tuesday 15th. October; to register a new short sold position of 58,590 Lots. This net short-sold position which is the equivalent of 16,610,005 bags has most likely been further increased, following the period of mixed but overall softer trade that has since followed.
The latest Commitment of Traders report from the London Robusta coffee market has seen the Speculative Managed Money Sector of this market increase their net short sold position within the market by 4.61% over the week of trade leading up to Tuesday 15th. October; to register a short-sold position of 57,380 Lots. This net short sold position which is the equivalent of 9,563,333 bags has most likely been little changed, following the period of mixed but overall softer trade that has since followed. The December to January contracts arbitrage between the New York and London markets broadened on Friday; to register this at 38.96 usc/Lb. This equates to 40.71% price discount for the London Robusta coffee market. The Certified washed Arabica coffee stocks held against the New York exchange were seen to increase by 5,313 bags on Friday; to register these stocks at 2,256,158 bags, with 86.9% of these certified stocks being held in Europe at a total of 1,960,458 bags and the remaining 13.1% being held in the USA at a total of 295,700 bags. There was a smaller in number decrease to the number of bags pending grade to this exchange, by 4,269 bags; to register these pending grading stocks at 37,210 bags. The commodity markets were mixed in trade on Friday, to see overall macro commodity index taking a firm sideways track for the day. The Sugar, Coffee, Silver and Palladium markets ended the day on a positive note, the Gold market remained unchanged, while the Cocoa and Platinum markets ended the day on a softer note. The Reuters Equal Weight Continuous Commodity Index that is related to 17 markets is 0.244 % higher; to see this index registered at 401.355. The day starts with the U.S. Dollar steady, trading at 1.289 to Sterling, at 1.116 to the Euro and with the US Dollar buying 4.111 Brazilian Real. The London and New York markets started the day on Friday trading on a modest soft note, both the London and the New York market maintained this stance into the early afternoon trade. As the afternoon progressed both markets gained support to trade on a modest positive note, towards the end of the day the New York market gained support to close near the highs of the day with the London market following suit in a more sedate manner. The London market ended the day on a positive note, and with 70.9% of the earlier gains of the day intact, while the New York market ended the day on a likewise positive note, and with 84.8% of the earlier gains of the day intact. This close might inspire some degree of confidence, to possibly set the markets for another hesitant steady start for early trade today, against the prices set on Friday, as follows: LONDON ROBUSTA US$/MT NEW YORK ARABICA USc/Lb. NOV 1216 + 22 DEC 95.70 + 2.80 |
