Coffee Traders Forum
[ Post a Response | Coffee Traders Forum ]
Posted by Tango
on November 30, 2018, 7:07 am
Robusta opened with selling and the market has remained weak. The JanMar spread is quiet and has been trading at -18 and -17. The arb is 38.24. Arabica did not open as weak but has remained quiet, and, like yesterday, under slight pressure. The depth of market is unremarkable at the present on either side of current levels. Bids increase at lower prices. All major currencies are down against the $ as are several EMs. Argentina continues to be strong. USDMXN is 20.3070 +.0770, USDCOP is unchanged at 3236.45 and USDBRL is 3.8552 +.0037 +.10%. Bond futures are steady, Grains are higher but equities, oil and metals are all lower. Palladium is higher again and approaching parity with gold. Cocoa is lower and sugar and cotton are higher.
The market may have found a base at this level as it has been typical to remain rangebound but it is Friday. Letís see what 8:00 brings.