Agreed regarding the Real, although there is no motivation for coffee to react positively with a strong Real other than speculative. The exception is that it may discourage origin selling. I have no sense if direction except that the market feels a little steady on light volume. One thing is certain that striking prices will be areas where the market will provide resistance/support. Also, there are 69 active index funds, 45 long and 24 short, besides the Bloomberg fund, that may be looking to rebalance during this period. For now the market is steady with the Real last on the CME at 5.0862 -.0128 -.25%. USDCOP is 3,488.4199 +0.42 (+0.01%)