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Posted by Tango
on June 18, 2019, 9:22 am
Spreads, roll and liquidation on both sides, big EFPs to avoid delivery on ICE all account for the big July drop in OI. Today we continue to see the market with continuous selling, though it isnít clear whether its liquidation or new, and good bids below 97.50. Spreads are steady in KC and weak in RC. The steady Real is ignored as USDBRL is 3.8694 -0.0187 (-0.481%) and USDCOP is 3,272.6499 -8.38 (-0.2554%). Volatility is a tad softer. Cold weather persists but not threatening.
Next five days:
Gradually the atmospheric blockage loses force and a cold front advances through the southern region of the country. The already weakened system of rain causes increase of cloudiness and mainly the decline of the temperature in the next days. The rain must be very weak and only in some points between Rio Grande do Sul, Santa CAtarina, eastern ParanŠ and until the end of the week will rain very weak also in the coast of the Southeast. The main areas of coffee follow in dry weather.