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FOOD & FIBER

SOFTS: March sugar closed down 15 points at 14.03 cents today. Prices closed nearer the session low. The sugar bears have the firm overall near-term technical advantage.

December coffee closed up 45 points at 124.20 cents today. Prices closed near mid-range and hit another nearly four- month low early on today. The coffee bears have the solid overall near-term technical advantage.

December cocoa closed up $19 at $2,063 a ton today. Prices closed nearer the session high. The cocoa bulls have the overall near-term technical advantage. Prices are in a two- month-old uptrend on the daily bar chart. However, there are still stiff resistance layers that lie just above the market.

December cotton closed up 27 points at 67.80 cents today. Prices closed nearer the session low today. The cotton bears have the overall near-term technical advantage. However, recent choppy and sideways price action makes me suspect a near-term market bottom is in place.

January orange juice closed up 75 points at $1.5310 today. Prices closed nearer the session high. The FCOJ bulls have the overall near-term technical advantage.

November lumber futures closed down $1.30 at $428.50 today. Prices closed nearer the session low on mild profit taking after hitting another contract high early on today. The bulls have the solid overall near-term technical advantage.

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