Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
The depth of market is insignificant on either side. However, as we see there was good selling early in the morning that brought the market down from the opening high. Additional selling has entered throughout the morning but the market is managing to bounce back to 140.00. Systems will be buyers at 8:00 and we will see if they can carry the market higher. These are the present dynamics. Any sector can enhance or alter the current trend, tilt the scale one way or the other, but for now the trajectory is upwards. London seems to be lagging as the Sep arb is 43.38 but the NovJan spread firmed yesterday back to 25 premium. BRL is unchanged at 3.1138 and the COP is 2961.78 -1.88. Bond futures are flat and all currencies are lower against the $ except for the £. Metals are down and reacting to the $. Grains are down with beans sharply lower, oil is a bit higher and equities are mixed. In the softs, cocoa is higher, cotton unchanged but steady and sugar is slightly lower and quiet.