KC fell 145 points to settle at 109.55 while Robusta lost $28MT, settling at 1652 basis the new front month September contract. Funds continue to pressure KC and industry take on additional cover as a matter of course, while discretionary specs largely stood aside. The low for the day (109.25) coincided with London’s close as Robusta traded an intraday bottom of 1647, -$33 during the settlement. The BRL, which rallied yesterday yet failed to inspire upside in coffee prices, fell by 1.2% today and proved true to form in influencing the downside. Open interest grew by another 1,093 lots, its 7th consecutive increase. Much anticipation ahead of tomorrow’s COT if only for little else to get excited about. Let’s hope that changes soon.
Write something about yourself. No need to be fancy, just an overview.