Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
This reporting period covered a nearly 7 cent trading range. The high of the period made right away and the market from there traded lower. The low of the period, came on the last day of the reporting period. Since the high of 14325,
the market has traded lower by 16 cents and settled this past Friday just off the lows. This report to me is a bit confusing. We do see a decline in total OI and the numbers. We did have the Jewish holidays in this period, which slowed trading a bit (9/21, 9/22). As Tango commented at times, we clearly had some other groups besides the typical systems and commercials impacting the intra-day trade. It is just not easy to pinpoint in this report. I highlighted some of the areas that caught my eye.
What do we expect from here?? As we saw from the 3 days of the current reporting period, we can expect more of the same. We began to see the open interest begin to again climb, indicating new sales (funds/spec) and likely new longs by the commercials and other groups. Not sure what will change the tide in the short term, particularly given the arrival of the long awaited rains. I expect the debate to continue in regards to actual rainfall, timing of the rainfall, etc.
I look forward to further comments.