Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Not much to say about a 40 point range. Yesterday systems were sellers and commercials were buyers at the lows. Buying came in from other sector but possibly it could have been commercials that paid up as well. In understanding systems, their methodical activity in the market is not aggressive. Time is on their side and they are adding shorts. Those that sold aggressively up to 126.00 or so may have an urgency in covering at these levels. There’s not enough hay to feed the ponies, essentially. At the same time, the 120.00 price, which is a popular strike, may be a hurdle. It’s Friday and option expiration. RC is trailing KC at 40.00. The Real had a nice correction yesterday and early indications for USDBRL are unchanged at 3.5506. COP is 2825.07 unchanged. Other currencies are all higher against the $ while bond futures turned slightly soft. Metals continue to show some strength but are not running away. Oil and equities are higher. Sugar is lower while cocoa and cotton are higher.
Thank you Alf for your sound comments.