The latest Commitment of Traders report from the London Robusta coffee market has seen the Speculative Managed Money Sector of this market decreased their net short sold position within the market by 1.71% over the week of trade leading up to Tuesday 24th. September; to register a short-sold position of 46,545 Lots. This net short sold position which is the equivalent of 7,757,500 bags has most likely been marginally increased, following the period of mixed but overall sideways trade that has since followed
The General Statistics office in Vietnam have estimated that the countries coffee exports for the month of September shall be approximately 1.67 million bags, which they say shall contribute to the countries cumulative exports for the first nine months of this year to be 12% lower than the same period last year, at a total of 21.16 million bags.
Illustrating the problems producers are facing from the prevailing soft reference prices of the coffee terminal markets, the report notes that while the volume of exports for the first nine months of this year was 12% lower than the same period last year, they say that the value of these exports was a more extreme 20.7% lower than the value of the coffee exports for the same period last year.
The November to December contracts arbitrage between the London and New York markets narrowed on Friday; to register this at 40.98 usc/Lb. This equates to 40.61% 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 6,564 bags on Friday; to register these stocks at 2,277,278 bags. There was a smaller in number increase to the number of bags pending grade to this exchange, by 4,079 bags; to register these pending grading stocks at 33,579 bags. "