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Posted by Tango
on November 12, 2019, 9:28 am
We see the impact of notice season in both markets as positions and prices are affected. Today is a continuation of yesterday’s weakness but, in spite of this, there seems to be some resilience and moments of strength even if temporary. The OI is dropping quickly in Dec and rising just as quickly in March. The market is also subject to origin selling as it is keeping prices in check and forward spreads tight. USDBRL is 4.176 +0.0244 (+0.59%) and USDCOP is 3,373.8999 +39.90 (+1.20%). In weather reports, words like sporadic and net drying continue to be used.