KC rallied 150 points to settle at 99.30, the second best performer on a percentage basis in the BCOM, largely courtesy to a friendly move in the Brazilian currency. The BRL rallied to trade above 4.00 $/R for the first time since August 21st on optimism amongst investors that conservative candidate Jair Bolsonaro will win the presidential election, while leftist candidate Fernando Haddad expressed interest in selecting a market friendlier finance minister. An intraday overlay chart shows underscores the correlated rhythm of trading in a market that has been struggling to find other inspirational directional cues. Open interest increased 2,519 lots on yesterday’s +190 point range, however the implication is the increase was mainly due to new spread positions as 16,307 traded on a day with total volume of 33,610 lots. A range bound Robusta accreted $5 to settle at 1516 basis the November contract.
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