Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
I don't understand how you can be so bearish on this report when the funds are still 40,000 plus short and KC went up despite a weakening BRL. I'm with Phil on this one it is time to buy on breaks and ignore short term bearish reports such as COT and divergences.
The one thing that I value that most here don't seem to appreciate are positive closes, also someone is buying the dips. In bear markets one sells the rallies, in bull markets one buys the dips. Recent action seems more like the latter so far although we may retest several times before erupting to the upside.
Hey! How about corn. Plantings are about 40% below normal in the corn belt and the highly advertised rain last week did not materialize. Look at the US Drought Monitor. The North Texas drought seems to be extending northward. Instead of the moisture laden Gulf winds from the South there have been plenty of high winds but more like the siroccos from Africa coming from the Chihuahuan desert of Northern Mexico. In Nebraska last week the wind gusts were over 50 MPH. Steady winds were at around 40. Not the sort of front that would bring about a soaking rain. ALf1, could you please comment on my findings and tell me whether I'm off base or do indeed have something. Thx
I don't see these subjects being covered by the press or by commodity commentators. Perhaps they are too busy accumulating their positions before talking.