"Right now, most people are spreading. We're seeing everything move into the July contract in big form," said Hector Galvan, senior market strategist for brokerage RJO Futures.
Galvan said it doesn't look like the inversion is due to any short-term supply issues at this point.
Robusta coffee trickled lower, while US arabicas finished higher. The latter, however, remained toward the bottom of its range.
Arabica coffee futures failed to garner any of the commodity complex's upward momentum and inched lower, remaining well-established in the range of $1.77-$1.95 that it has held for the past month.
"It's the overall pressure from South America," Galvan said, referring to the large crop on the trees in Brazil.
To read the full article with Hector's comments, please go to Reuters.com
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Hector Galvan
Senior Commodities Broker
After earning a bachelor's degree from the University of Illinois at Urbana-Champaign, Hector was encouraged by a relative at the Chicago Board of Trade to get involved in futures. Prior to RJO Futures, he was a broker at Lind-Waldock from 2002-2004. He is experienced in short-, medium- and long-term chart analysis, and uses his knowledge in moving averages, oscillators, market sentiments, money management, and pivot profits to assist clients. His advisory background includes Hightower, Helms, G.... Read More
