Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Early morning buying has sustained a steady market . Good selling is present scale up in May and resting scattered bid are on the downside. The buying is determined and consistent but not without its challenges. Besides long liquidation there is also fund new selling to be dealt with. May on its own is steady as shown by the MayJul spread which is -1.90 bid. In looking at the chart there have been 100+ pieces being bought here and there. RC arb is 38.40 indicating that KC is leading the way. Spreads in RC are also steady. The Real shows little change in the cash market at 3.3685, but it may be too early for an accurate quote. On the CME, the $ is slightly lower against the currency for June. COP is 2792.5 +1.30. Most currencies are down against the $ except for the £. Bond futures are flat, metals lower, except for platinum, palladium and copper which are possibly reacting to the stronger equity market. Crude is slightly higher, sugar and cotton unchanged while cocoa is lower.