Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
The OI was expected to be lower but instead it is slightly higher. To me this is a healthy sign for the market because it indicates short covering, new buying and new selling. Liquidation on both sides was expected rendering a negative OI. However it seems that shorts are being replaced by new shorts, whether commercial or otherwise. The Dec OI is down but we also saw the DecMar get hit yesterday indicating a roll into Mar. today the market remains friendly. Strikes are hurdles on the upside, support on the downside. The Real has turned steady as BRL is 3.1700 -.0158. The Arb is unremarkable at 41.86 but the NovJan is very steady at 33 premium.