Coffee Traders Forum
[ Post a Response | Coffee Traders Forum ]
Posted by Tango
on February 20, 2020, 6:42 am
The market began below settlement and continued to be weighed down. It remains quiet. It is weak but there is little interest. Yesterday the market shrunk abruptly as volume was over 50% spreads both in the active month and in the total. 8,571 lots of EFP were posted which is typical at notice season. The Real continues to weaken but origin selling is not present unless it is so in the immediate months. Last trade in spot Real a half hour ago was 4.3671 +0.0022 (+0.05%). The CME shows a value of 4.3761. It is still not evident that funds are selling but if the market continues to drift lower they will likely be more evident sellers. For now it seems that day traders are involved as short covering has been taking place near and at the close.
The $Index is higher as all key currencies are lower. The BRICs are also lower this morning. USDMXN is 18.6844 +0.1259 (+0.68%) and USDCOP is unchanged at 3382.50.
Bond futures are higher equities are lower and gold continues to climb even with $ strength. Crude is higher while grains are lower as are the softs.
Prices just hit stops and remain weak but we may bounce back a little.