Coffee Traders' Forum - A Discussion about Coffee Futures Trading

Coffee Traders Discussion Forum

Coffee Traders' Forum

Market *PIC*

We remain in a narrow range on this option expiration day. There was buying at the opening followed by some selling later in the morning that did not do any damage. The market remains to be a steady market with great resistance making a horrible setup for trading it. But as Juan has observed and I have repeatedly stated, several markets are suffering from the same degenerating symptoms. Uncertainty and hesitation are increasing throughout the investment world. But although circumstances have made it impossible for day and short term traders it may very well be a time to construct long term positions in our markets and others. For now our market, such as it is, is steady.

The MayJul squeeze seems to have abated and maybe longs are now looking to roll into July. The spread is offered at -2.10. RC is in line with yesterday with the arb at 38.95 in May. The spreads there are very steady and continue to be volatile. MayJul is 22 discount and JulSep is 10 premium. Warehouse Stocks there continue to ease. The Real lost some ground later in the day. USDBRL is unchanged at 3.4124 and COP is 2706.70 +.95. Other currencies are mixed and DX is slightly higher. Metals were higher but have eased as bond futures are doing the same. Equities are slightly higher and oil lower. All the softs are higher.