Coffee Traders' Forum - A Discussion about Coffee Futures Trading


Coffee Traders Discussion Forum

Coffee Traders' Forum

Market *PIC*

Moderate buying has been supporting the market throughout the morning. Some size has been offered and bought. Offers remain as the market rises but with the size of the spec short position, systems and otherwise, size becomes a magnet. Current steadiness will be amplified when systems enter the market at 8:00. There seems to be only one strategy for now which is to buy dips and corrections, depending on intensity. Spreads are steady in KC and soft in RC. The arbitrage reveals a slight lag with a spread of 47.72. The Real is beginning the new year on a firm note as USDBRL is 3.2804 -.0320. The COP closed on Friday at 2985.78 +11.00. All currencies are strong against the $, except the Canadian. Bond futures are slightly soft but gold continues to climb. Silver and copper are lower however. Oil is unchanged and remains steady while equities are slightly higher. Sugar and cocoa are unchanged to slightly lower lower while cotton is higher and looking at 80.00 as the next target.