Thank you YirgaFan and JimL.
Tango thank you.
I know Funds are or were net long, however within that group there are Funds short and they can move the market. It is umcomprensible to me the market all the way down was done only by origins. It has had been a mix and the way the maket came down is properly STs partipation, which in majority are Funds.
Also I see the move down it is too exaggerated and perhaps that is the reason the market is reacting a bit now... although it is pretty coincidental with the Brazilian currency today more stable.
Hopefully the market can stabilize, there is no physical bz at this level maybe just Brazil. Internal prices ( domestic market) are well above the NY C. The diffs are still very high and at this time also the Importers need the market higher with the market diffs lower indeed.
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