Coffee fell 40 points on disinterest, settling 119.95 basis K. A 100 point rollover gap now exists basis KC2 as KCH rolls off the board. Roaster buying provided key support throughout the session, though by 10am EDT a familiar currency centric pattern settled in for the day. Spreads were unchanged as KN remains firm, closing -210 on <1700 lots of volume. Options too were muted, led by 500ish K 135 Calls. Of greater intrigue was the 85 point investment in 200 Z 200 Calls. London slipped 3$ to 1754, fairly in line with many of the recent moving averages. Spreads were quiet on that front as well as K/N fell a dollar to -29. Good luck to everyone in the Northeast USA – looks like you have another fun snow event on your hands.
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