This was expected and is mostly technical, for sure some profit taking and some origin selling on worries that prices are coming off the highs but THE main reason is the RE-POSITIONING of all those in #KC holding MASSIVE positions for the soon-to-expire December contract and moving them forward mostly to March and some even to the May and July Arabica #coffee contracts, this is ALWAYS happening when one contract expires in the futures market but this time there is MUCH more positions being moved 😅😇
#KC