Coffee Traders' Forum - A Discussion about Coffee Futures Trading


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Market *PIC*
In Response To: KC gap lower *PIC* ()

The opening established the range for these early hours as buying absorbed good selling. Any attempts to rally have been rejected so far. In looking at the 130.00 OI, it is surprising that there was not more support at these levels. Maybe it will come later in the morning. Certainly the systems funds will be buyers but they alone have not been effective in absorbing the combination of new and old selling. The depth of market is balanced and fairly thin. Imo, the systems will reverse to selling between 127.50 and 126.50 if true to past behavior. The market is essentially boxed in and it struggles going either direction. Meantime, rains continue to be light but the significance of which, if any, is not being recognized by the market. The DecMar has been very weak as it his trading at -3.70, a price lower than its predecessor SepDec for the same pre-notice span. Is the spread telling us about production, or is it a reaction to the ever growing certified stocks? Is it a buy considering the anticipated spec roll? NovJan London has eased to 26 premium and the arb at 40.64 indicates that RC is keeping pace with KC. BRL is down .0011 at 3.1790 while COP is 2957.00 -.04. Currencies are mixed but outweighing the $ on average. Bond futures are on the steady side and metals are mixed with gc down a tad. Crude is very steady and higher and equities are slightly lower. Sugar is unchanged while cocoa and cotton are slightly higher.

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KC gap lower *PIC*
Market *PIC*
KC Volatility
Re: Market