The latest Commitment of Traders report from the New York arabica market has seen the Non-Commercial Speculative sector increase their net long position by 13.17% within the market over the week of trade leading up to Tuesday 8th. September: to register a new net long position of 33,092 Lots which is the equivalent of 9,381,435 bags. This net long position has most likely been further increased, following the period of positive 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 long position by 16.02% within the market over the week of trade leading up to Tuesday 8th. September; to register a new long position of 15,240 Lots.  This net long position is the equivalent of 2,540,000 bags and has most likely been further increased following the period of positive trade that has since followed.

The Coffee Exporters Association in Brazil Cecafé have reported that the countries green coffee exports for the month of August were 2.2% lower than the same month last year, to total 2.97 million bags, this number made up of 2.50 million bags of Arabica Coffee down 3% from the same month last year and 470,00 bags of Robusta Coffee. This is the second month of the new July 2020 to June 2021 coffee year, with this harvest just about completed one might anticipate growing numbers in export reports to consumer markets, in the months ahead.

The November to December contract arbitrage between the London and New York markets broadened on Friday; to register this at 67.46 usc/Lb. This equates to 50.93% 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 15,760 bags on Friday to register these stocks at 1,117,401 bags, with 93.5% of these certified stocks being held in Europe at a total of 1,045,172 bags and the remaining 6.5% being held in the USA at a total of 72,229 bags. There is meanwhile no change to the number of bags pending grading for this exchange; to register these pending grading stocks at 6,339 bags.

It was a softer day overall on the commodity markets on Friday, to see the overall macro commodity index taking something of a sideways track for the day. The Natural Gas, Sugar, Cocoa, Coffee, Copper, Corn and Soybean Markets ended the day on a positive note, while the Oil, Orange Juice, Wheat, Gold and Silver markets ended the day on a softer note. The Reuters Equal Weight Continuous Commodity Index that is related to 17 markets is 0.2100% higher; to see this index registered at 412.1181. The day starts with the U.S. Dollar steady, trading at 1.282 to Sterling, at 1.185 to the Euro and with the US Dollar buying 5.317 Brazilian Real.

The London and New York markets started the day on Friday trading on a modest positive note, both markets continued this positive path into the early morning trade. As the afternoon progressed the London and New York markets started to attract a degree of selling pressure, and resistance as overhead selling activity returned to the floor at the highs of the day, this was short lived as the markets quickly gained traction to see both the New York and the London market close near to the highs of the day.

The London market ended the day on a modest positive note and with 55.56% of the earlier gains of the day intact, while the New York market ended the day on a likewise modest positive note and with 88.24% of the earlier gains of the day intact. The positive close may assist towards some degree of confidence to possibly set the markets for a hesitant near to steady start against the prices set on Friday, as follows:

LONDON ROBUSTA US$/MT                                        NEW YORK ARABICA USc/Lb.

NOV 1433 + 10                                                                 DEC 132.45 + 0.75
JAN 1445 + 9                                                                    MAR 133.40 + 0.80
MAR 1458 + 10                                                                MAY 134.35 + 0.90
MAY 1471 + 10                                                                JUL 135.35 + 1.00
JUL 1484 + 9                                                                    SEP 136.25 + 1.10
SEP 1498 + 9                                                                    DEC 137.05 + 1.15
NOV 1511 + 9                                                                  MAR 137.85 + 1.15
JAN 1522 + 9                                                                   MAY 138.40 + 1.20