Coffee Traders' Forum - A Discussion about Coffee Futures Trading

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OI/Market *PIC*

Short covering continued by systems while longs sold. Sep roll is on as well. Expect EFP activity to increase and help with the trimming of the Sep OI. Expect also the systems to start buying long one of these days as this sector of the managed money shorts may be almost completely covered. London OI continues to climb as specs may be buying from commercials. The increase is in Nov where a block of EFP was posted. The NovJan is softening to 20 premium and the Sep arb has climbed to 42.64 indicating a steadier kc. The market today has been steady all morning with minimal setbacks. 415 lots offered from current high and last if 139.40 to 140.00. More is offered above but for now these offers feel like magnets. BRL is up slightly at 3.1346 as the following news recently came out:

"the lower house of Brazil’s congress will on Wednesday vote on corruption charges against the president, Michel Temer. If two thirds of its deputies approve the charges – and Brazil’s supreme court agrees – Temer will be suspended for up to 180 days and put on trial." � � � � Source= The Guardian

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OI/Market *PIC*