Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Selling was present at the bell and weakness has prevailed for most of the morning but the markets seems to be recovering. The depth of market is fairly populated and well balanced. Spreads have been steady in the front as March is the focus of the buying. MarMay is trading at -2.20. Systems and other shorts will be likely buyers at 8:00. RC is not as friendly as KC with the arb close to 50.00. The Real showed a strong performance yesterday and the USDBRL is now 3.2534 -.0057. The COP closed yesterday at 2932.15 -53.63. Currencies are mixed rendering a higher DX. Bond futures are recovering from an overnight drop extending support to gold and platinum. Oil continues to be strong as do equities. Sugar and cotton are higher while cocoa is lower.
For now the market seems to be in a buy dip/correction mode.