Funds are coming from more than 85k net short and now with 17k net-shorts have plenty of room to resume them. '
However, I think there is a structural change for them and that is happening. They are in the process to become net longs several months ago, just the lower coffee seasonality of this month and perhaps part of the next one, are leading them to take temporarily the other way.
Most of Origins are not selling at this level and won't do it. Coffee seasonal demand should start in the next few weeks. Also, the whole world is going to a massive quantitive easing and expansionary fiscal policies to mitigate the effect of a lower global growth forecasted as the international trade crisis is taking a toll.
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