Coffee Traders' Forum - A Discussion about Coffee Futures Trading

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Market *PIC*

It’s a quiet market once again with a few spurts of buying including at the bell. Yesterday’s rebound seems to be holding. As the day progresses we will get a better feel for direction. Yesterday as the market was making new lows, blocks of all sizes were bought by commercials. As the market stalled, buying from sectors other than commercials came in. Of course my comments are pure conjecture but based on the COT, OI and repeated market behavior. Whether spec buying can be sustained is the question of the morning. The depth of market is insignificant at these levels on either side but we know that systems are still sellers, and will remain so until 130.50 or so. DecMar has remained steady throughout the selling in spite of forward bids being hit. London continues to prove to be more supported than NY as the arb is 37.59 and the NovJan spread is very firm at 34 premium. BRL is 3.1545 unchanged and COP is 2949.80 +.74. Currencies are mixed with the € recovering making DX unch. Bonds are slowly recovering after earlier weakness but metals continue to be suppressed except for platinum, palladium and copper. Oil is slight lower while equities are slightly higher and softs are all unchanged. KC seems to be experiencing some pressure at the moment.

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Market *PIC*
KC Volatility