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Posted by Tango
on August 15, 2019, 9:29 am
The Sep OI is still high enough to detract from outright activity. Yesterday strength was present but was also thwarted. Possibly when the OI drops sufficiently the market will regain direction. For now the market is under slight pressure as it is trading at 97.85. Robusta was busy yesterday but it appears to be spreads that accounted for the high volume. Today in KC we saw some far forward selling extending to Sep21. As the Real strengthened possibly some producers didnít want to wait for further gains on the currency. USDBRL is 4.0208 -0.0314 (-0.7749%) and USDCOP is 3,453.25 -2.43 (-0.0703%). The Yuan is still weak against the $ but the Argentine Peso is correcting as USDARS is 57.0455 -3.1925 -5.2998%.