Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
The end of week and of month will hopefully attract some action. Hot and mostly dry conditions overnight dominated most of Brazil. Yesterday the market appeared to want to rally, after having visited 127.50, by testing 129.00 repeatedly. Today so far we have a narrow range with light volume but, for now, is above unchanged and again feels like it is looking upwards. Nevertheless the true test will take place at 8:00 when the systems appear. The depth of market on the buy side is unremarkable for now until yesterday's low, at which point commercial buying shows itself in Dec and in several other months. On the sell side, there are some offers in the 129.00 area but beyond that it is clear. The Real regained some value yesterday and BRL is 3.1822 and unchanged presently. COP is 2943.76 -.06. Other currencies are mixed making the $ unchanged. Bond futures seem to be recovering from the slide they experienced since the Fedspeak and metals are reacting positively. Oil is unchanged and equities are mixed. Softs are higher except for sugar.