Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Selling at the opening appears to have attracted buying. Some weakness prevailed but the market held 118.00 again for now and bids have been replenished. Otherwise the depth of market is thin on either side. Sell orders begin to populate at 119.00. The buying seems to be determined and the selling eager. Although the potential of buying in this market is vast as we know, the longs are allowing shorts plenty of time to cover and providing a sort of refuge for them. And so we have a less volatile market than we would like. Spreads continue to be bought as spec shorts continue to roll into July and Sep asserting their commitment to the short side, for now. Out of 96k lots traded 74k consisted of spreads. MayJul remains -1.90 bid this morning. RC is slightly firmer than KC with the arb at 38.55. Spreads there continue to be steady as MayJul is -13 bid will JulSep is 10 bid, reflecting a tightness in physical, certified or both. USDBRL is 3.4224 +.0037. There has been some forward selling on ICE which is often associated with origin, consistent with a weakening Real. COP is 2776.50 +1.50. Bond futures have been slightly erratic as currencies are higher against the$, except the ¥. Metals closed steady as the Syrian situation may flare up but all metals are slightly lower. Equities are much higher and oil is higher as well. All softs are lower.