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Posted by Tango
on November 14, 2019, 6:57 am
Robusta opened with buying while Arabica opened with selling. It seems that RC has been leading the market in general and the arb is holding 43.50. It closed yesterday at 43.95 and, typically, it rises as KC leads but not with this current steadyness. Yesterday, volume was again dominated by spreads. Lots of options on spreads have been trading as well but the market had consistent outright buying as well. 110.00 in March proved to be a good support area and the market propelled higher from there. Prices are again steady and we will see if 8:00 buying will become a pattern. The depth of market is light on either side.
Currencies are mixed among the major markets, rendering a higher $Index. The BRIC currencies are all higher except for the Real. The spot market shows USDBRL as 4.1697 -0.0005 (-0.012%) while the CME shows a spot equivalent of 4.1760. USDMXN is 19.3833 +0.0334 (+0.17%) and USDCOP is unchanged at 3424.75. LatAm currencies have been weak in general as a result if instability in several countries.
Bond futures are higher but have been easing. Equities are lower while metals are higher. Crude is higher while cotton and sugar are slightly lower. Cocoa is higher.