Coffee Traders' Forum - A Discussion about Coffee Futures Trading

Coffee Traders Discussion Forum

Coffee Traders' Forum

OI/Market *PIC*

The RC total change is more consistent with expectations based on yesterday’s market direction and COT composition. It’s possible that spread activity is camouflaging the outright KC change. Spreads have been bought aggressively in the last two days possibly in anticipation of the large spec roll. It worked well with MarMay. If indeed there is spec short covering then the more it occurs the less will the roll be. Today, we remain steady but a penny either way of the current 123.00 level the ratio of resting buy orders to sell has gone to 2:11. There is selling in July as well. The dynamics of the market present a challenge, but not an insurmountable one, for bulls. USDBRL is 3.2603 +.0152 and in line with other currencies as the $ strengthens. Several macro markets are weak as a result. Volatility continues to firm. Arb is 43.14.