June 11 2019
The latest Commitment of Traders report from the New York arabica coffee market has seen the shorter term in nature Managed Money fund sector of this market decrease their net short sold position within the market by 36.78% over the week of trade leading up to Tuesday 4th. June; to register a new net short sold position of 40,727 Lots. Meanwhile the longer term in nature Index Fund sector of this market increased their net long position within the market by 6.08%, to register a net long position of 40,727 Lots on the day.
Over the same week, the Non-Commercial Speculative sector of this market decreased their net short sold position within this market by 34.16%; to register a new net short sold position of 41,112 Lots. This net short-sold position which is the equivalent of 11,655,070 bags has most likely been increased again, following the period of overall more negative trade that has since followed and likewise, that of the Managed Money Fund sector of the market.
The Council of Coffee Exporters of Brazil Cecafé have reported that Brazil’s exports of arabica coffees for the month of May were 1,376,000 bags or 95.56% higher than the same month last year, at a total of 2,816,000 bags. But they note that due to the soft nature of the reference prices of the international coffee markets, that the average price for these arabica coffees in U.S. Dollar terms, was 22.37% lower than the prices achieved, during the same month last year.
Cecafé have also reported that the country’s exports of conilon robusta coffees for the month of May were 330,000 bags or 717.39% higher than the same month last year, at a total of 376,000 bags. While the exports of value added soluble calculated in terms of green coffee were 85,000 bags or 35.27% higher than the same month last year, at a total of 326,000 bags.
This Cecafé report therefore indicating that the combined coffee exports for the Month of May were 1,791,000 bags or 103.71% higher than the same month last year, at an approximate total of 3,518,000 bags. While the President of Cecafé Nelson Carvalhaes made comment that despite the low prices, the council remains positive for the country to continue to export large volumes and to grow market share within the consumer markets.
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