Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
The market continues to be soft in the early hours. Yesterday’s settlement price was not penetrated again and the market drifted lower after the opening. Buying however has been coming in and the market is currently stuck at midrange. The depth of market is equally balanced with the exception of 130.00 offers. Forward months are also empty of any size either way. RC is 50.43 in March with MarMay at -7 and MayJul is -36. Systems appear to be buyers and will show themselves at around 8:00. USDBRL is 3.2388 +.0038 and the COP continues to slide. Yesterday it closed at 2887.19 -15.27. Currencies across the board are lower against the $. Bond futures are drifting lower but are still holding to their overnight gains. Oil, metals, and sugar are all taking a break from their recent strength. Cotton is higher and cocoa lower, and, of course, equities are higher. KC is now under pressure. Many sectors are involved in the market. We will likely continue to see two way activity but the general steady tone is still dominant, imo.