Coffee Traders Forum
[ Post a Response | Coffee Traders Forum ]
Posted by Tango
on October 21, 2019, 6:40 am
There was very good buying at the opening as we see on the chart. The market has since then been steady. 8:00 may bring additional buying based on the general market mood inspired by the COT possibly and the Bloomberg article on Starbucks from late Friday. But as we know, whatever buying takes place it will meet some resistance. The depth of market does show a buildup of offers which may be an impediment to strength even if only temporarily. For now, the market is steady. RC is a passive participant with the arb at 41.16. KC spreads are steady.
Most major currencies are higher against the $ and all of the BRIC currencies are higher. USDMXN is 19.1067 +0.006 (+0.03%), USDCOP is unchanged at 3424.5 and USDBRL which closed at 4.1106 is valued at 4.1182 on the CME.
Bond futures are lower while equities and metals are slightly higher. Crude is lower but all the softs and grains are higher.