23 Jul 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 increase their net short sold position within the market by 48.28% over the week of trade leading up to Tuesday 16th. July; to register a new net short sold position of 10,823 Lots. Meanwhile the longer term in nature Index Fund sector of this market increased their net long position within the market by 1.99%, to register a net long position of 46,760 Lots on the day.
Over the same week, the Non-Commercial Speculative sector of this market increased their net short sold position within this market by 17.91%; to register a new net short sold position of 20,863 Lots. This net short-sold position which is the equivalent of 5,914,568 bags has most likely been little changed, following the period of mixed but overall sideways trade that has since followed and likewise, that of the Managed Money Fund sector of the market.
The latest Commitment of Traders report from the London robusta coffee market has seen the Speculative Managed Money Sector of this market increased their net short sold position within the market by 5.22% over the week of trade leading up to Tuesday 16th. July; to register a short-sold position of 27,179 Lots. This net short sold position which is the equivalent of 4,529,833 bags has most likely been little changed, following the period of mixed but overall sideways trade that has since followed.
Centro de Estudos Avanšados em Economia Aplicada CEPEA have post detailed field studies concluded that while they have not yet completed their assessment of frost damage to arabica coffee farms from the early in the month cold weather, that initial assessments indicate minimal damage. This is very much a general view on the part of the industry and speculative sectors of the coffee market, which has contributed to the softer nature of trade yesterday.
The September to September contracts arbitrage between the London and New York markets narrowed yesterday, to register this at 41.91 usc/Lb., while this equates to 39.88% price discount for the London Robusta coffee market.
The Certified washed Arabica coffee stocks held against the New York exchange were seen to decrease by 250 bags yesterday; to register these stocks at 2,362,865 bags. There was meanwhile no change to the number of bags pending grading for this exchange; to register these pending grading stocks at 32,376 bags.
The commodity markets were mixed in trade yesterday, to see the overall macro commodity index taking something of an erratic sideways track for the day. The Oil, Natural gas, Cocoa, Cotton and Silver markets ended the day on a positive note, while the Sugar, Coffee, Copper, Orange Juice, Wheat, Corn, Soy Bean and Gold markets ended the day on a softer note. The Reuters Equal Weight Continuous Commodity Index that is related to 17 markets is 0.1% lower; to see this index registered at 398.56. The day starts with the U.S. Dollar steady and trading at 1.245 to Sterling, at 1.119 to the Euro and with the US Dollar buying 3.741 Brazilian Real
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