Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
The July OI is down while the total is up. This could be July rolling into Sep combined with new selling and new buying. Breaking 120.00 May have reversed the trend such as it is. We may be seeing new fund selling and commercial buying but there’s not much to take away from the OI since option expiration trading is a good part of the activity. Today the market is remaining in a very narrow range disappointing both long and short daytraders. The last day of the COT period shows a market that dropped 5.20 cents and 10,648 lots in the OI. USDBRL is 3.5937 +.0309 with a weak $, not a good sign for the Real. Metals are strong trying to shoot higher but bond futures are reluctant to rally.