Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
It’s difficult to disagree with either Juan or Nagual. We can consider the report as bearish simply because of the magnitude of selling by commercials. However, what they sold they have been buying back on weakness. This afternoon there were 2,000 lots wanted between 120.00 and 119.00, although they may have been associated to the April option expiration. I maintain that we’re in a no range market and that any deviation from the narrow ranges that we have been seeing would be welcome deviation. It’s true however, that the market has been looking weak in general. On Monday April options will not be an issue so we will have a better fee for the market. Let’s also not forget that commercials may have been buying spreads which will show up on the COT as commercial longs and commercial shorts.