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Posted by Q
on March 24, 2021, 4:15 pm, in reply to "Thoughts?
Thanks Tango. I do agree that if material it would be friendly nearby spreads but negative deferred spreads as there's less coffee nearby but more in the future. Id think as U-Z is fairly far in future it could weaken on this while K and N should strengthen. As for why this hadn't happened all I can say is I find this kind of news is usually overblown. But we've also been in the midst of a fairly major commodity washout so the selling we've seen would dominate front months. Also there's no evidence of a material draw in the delivery market so market may just be complacent. My 0.02