Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
The big increase in the OI, and considering market direction yesterday, indicates new spec selling and commercial buying across the board, likely a combination of option related buying and consumer type buying. In spite of its bullish implications, the OI is having zero impact on the market. Spec selling continues to build on the short side. The buying is pretty consistent as well and the depth of market has reversed to a bias favoring the buy side. The range continues to shrink. The Real is still strong with USDBRL at 3.2271 -.0154. RC is holding while Kc is weakening at 41.18 arb. The $ continues to weaken as bond futures are now steady as well as metals.