Coffee Traders Forum
[ Post a Response | Coffee Traders Forum ]
Posted by Tango
on August 9, 2019, 9:40 am
Yesterday’s activity was a big roll day for both markets. The sharp drop in both Sep and the total is likely a combination of outright liquidation on both sides as well as spread liquidation and rolling Sep into Dec. Notice the EFS activity which could be end users wanting customized physical rather than taking delivery on ICE, or it can be a roll from Sep into May. EFP activity should increase as well as we approach FND. The SepDec is trading up to -3.35 as the short roll continues. Today the market remains quiet but on the steady side as short covering continues with longs active as well. USDBRL is 3.9321 +0.0133 (+0.34%) and USDCOP is 3,363.1101 -3.22 (-0.0957%).