Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Very quiet morning so far as whatever buying took place invited selling. The buying however seems necessary and likely related to rolling. The depth of market shows bids beginning at 116.50 both in May and the equivalent in forwards. On the sell side offers begin at 118.00 and in July at 120.00. MayJul is -2.00 bid. In RC spreads are mixed and the arb is 37.33 reflecting a lack of interest there as well. Yesterday, was similar to days prior as non-stop buying was challenged by long liquidation and fund selling. The Real cannot seem to hold on to gains yet with the USDBRL unchanged at 3.4490 in the early hours. The COP is 2788.65 -1.35. Other currencies are mixed rendering a flat DX. Bond futures have flatlined and crude and equities are of course lower. Metals are also having difficulty rising for now. Softs are unchanged except for cocoa which is lower. Uncertainty remains the word of the day in many markets.