"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 increased their net long position within this market over the week of trade leading up to Tuesday 24th. November; to register a new net long position of 16,415 lots. Meanwhile the longer term in nature Index Fund sector of this market increased their net long position within the market by 0.13%, to register a net long position of 59,858 Lots on the day.
Over the same week, the Non-Commercial Speculative sector of this market raised their net long position within the market by 99.80% to register a new net long position of 15,230 Lots which is the equivalent of 4,317,638 bags. This new net long position has most likely been further increased, following the period of mixed but overall firmer trade that has since followed.
The Indonesian government trade data from Sumatra, which is the leading coffee producing island within Indonesia, has reported that the islands robusta coffee exports for the month of November were 75,668 bags or 20.83% higher than the same month last year, at a total of 439,983 bags. This contributes to the islands cumulative robusta coffee exports for the first two months of the October 2020 to September 2021 coffee year to be 97,998 bags or 12.09% lower than the same period in the previous year, at a total of 712,410 bags.
The Ivory Coast as west Africa’s leading robusta coffee producer, have reported that their coffee exports for the month of October were 126,367 bags or 61.49% lower than the same month last year, at a total of 79,117 bags. This has contributed to their country’s cumulative coffee exports for the first two months of the October 2020 to September 2021 coffee year to be 222,183 bags or 60.17% lower than the same period last year, at a total of 147,067 bags.
The January 2021 to March 2021 contract arbitrage between the London and New York markets narrowed yesterday: to register this at 55.72 usc/Lb. This equates to 47.04% 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 16,364 bags yesterday, to register these stocks at 1,260,475 bags, with 93.7% of these certified stocks being held in Europe at a total of 1,180,665 bags and the remaining 6.3% being held in the USA at a total 79,810 bags. There was meanwhile a larger in number 21,265 bags decrease to the number of bags pending grading for this exchange; to register these pending grading stocks at 78,720 bags.
The Certified Robusta coffee stocks held against the London exchange have been reported to decrease by 7,667 bags over the weeks of trade leading up to Monday 30th. November, to see these stocks registered at 2,217,000 bags, on the day."
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