Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Selling at the opening was followed by strength which established the high for the morning until selling pushed the market down a penny to set the low. Since then the market has been trying to regain its footing to the upside. After an early worthy performance yesterday, the market succumbed to selling. Hopefully the OI will give us a clue of what happened. It appeared that systems reversed yesterday as the market made a high of 123.80. If so, they will come in as buyers at 8:00. It is difficult to pick them out at times when sellers are constant as they were yesterday. As the day continues activity and behavior should reveal more. For now the market is quiet and still. RC is 42.61c under KC and the JanMar is at a 3 point discount. USDBRL is 3.2872 -.0051 while the COP closed yesterday at 2979.20 -18.79. Currencies are mixed and the DX is down while bond futures are quiet but on the steady side. Metals are mostly higher and gold and silver feel like they want to explode. Hopefully they will. Oil is higher and equities are unchanged. Sugar is slightly higher, cotton slightly lower and cocoa is unchanged.