Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Great report by kafenitsa. Today the market tells me little. It may be soft but as I see it it’s a 40 point range that had some selling at the opening and has generally flatlined since. Of course the market can go lower but it seems that it’s at or near the bottom of an ever shrinking range. The selling appears to be the usual new fund selling and the buying is the usual commercial new positioning. To 120.00 and 121.50 the buy orders to sell order ratio is 5:1 respectively. Bids are also present across the board near and below current prices. Larger bids are present in Dec18 and Mar19 2 cents below or so. RC is relatively firmer with an arb of 39.97. Spreads in that market are beginning to take off on the upside. Spreads in KC are quiet. The Real apparently closed higher as the USDBRL this morning is 3.2099 -.0013. COP is unch at 2853.00 as other currencies are turning against the $. After the announcement of Gary Cohn’s resignation, equities fell sharply and have recovered somewhat but are still down. Metals had rallied but are now lower. Oil is down and bond futures are steady. Cotton fell sharply yesterday and is down this morning. Sugar is lower and cotton is higher.