Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
The OI continues to baffle. A negligible change means new vs old. Based on market activity it seems that commercial and others are new buyers and likely a spec sector liquidated. More likely is that several groups were involved yesterday. Today we have seen mostly a weak market with good buying. As we saw in the J Options OI, there are several thousand Puts that become shorts sub 120.00. This could be a supportive factor for those traders that will cover their potential short positions. Meantime specs keep selling. The arb continues to deflate meaning a supportive RC. It is now 39.67. USDBRL is now 3.2227 + .0158. Waiting for equities to open.