Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Good buying was present at the opening but selling was also there and the market remained under pressure for the rest of the morning. The depth of market however shows a great deal of buying. 1 1/4 penny either way shows close to 900 lots wanted and a ratio of 4:1 of bids against offers. In addition there are scattered bids in this same general area extending to May19. Three cents below this level there’s a sizable bid in Dec which, when last engaged, turned out to be an iceberg. The buying is likely mostly commercial and the selling continues to be speculative. RC is staying in pace with KC at 41.96. USDBRL is unchanged at 3.2525 and COP is 2866.50 +.50. All other currencies are down slightly against the $ except for the £. DX is holding for now at 90.00. Bond futures are on the soft side while metals are slightly higher. Equities are mixed while crude is a shade higher. All softs are higher and steady except for KC.