Another rough day for the longs in coffee as the Arabica market relinquished 250 points to settle at 106.00 the lowest settlement since November 6th of 2013, while London on September option expiry, lost $26 to settle at 1643, a 27 month low. Red across the board as the dollar index traded to a 14 month high on safe haven flows amidst ongoing concerns over tariffs and Turkish tensions spilling over to emerging markets. The BCOM fell 1.8% (at print) as all commodities save lean hogs and live cattle suffered losses. Equities had their worst session in 2 months with the S and P falling for the 5th time in 6 sessions The dollar index turned negative In tandem with London’s close yet the BRL failed to gather any upside traction and KC prices remained under pressure into the close. KCU/KCZ weakened
to it lowest level to date of 360 under as DFU/DFX paradoxically strengthened to its highest level to date of 53 over. In search of a silver lining, save the record fund short, all suggestions are welcome.
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