Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
We again see a slight negative change in the OI. It seems that several sectors are liquidating or adding. We know that systems are new sellers and commercials could be short covering or new buying. Option hedging and EFP are adding to the confusion. It’s enough to say that the market remains weak in quiet trading with very good resting bids. One consideration is that we have been dealing in a market with weekly narrow ranges. This area could be the bottom if the only interest in selling comes from systems. The arbitrage continues to weaken and is now at 46.47 indicating a steadier RC. The JanMar is 13 bid. USDBRL is 3.2379 -.0035 with a steady $. Oil and metals remain under pressure as does sugar and cocoa. Cotton is steady.