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Market Commentary and Analysis

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FOOD & FIBER https://quotes.ino.com/exchanges/category.html?c=food

SOFTS: March sugar closed down 24 points at 12.35 cents today. Prices closed nearer the session low today. The bears have the overall near-term technical advantage.

December coffee closed down 85 points at 93.60 cents today. Prices closed near mid-range today. Coffee bears have the solid overall near-term technical advantage.

December cocoa closed down $3 at $2,519 a ton today. Prices closed nearer the session high today. The cocoa bulls have the overall near-term technical advantage amid very choppy trading.

December cotton closed up 102 points at 64.55 cents today. Prices closed nearer the session high today and closed at a more-than-three-month high close. Bulls have the overall near-term technical advantage. Prices have been trending higher for over six weeks.

November orange juice closed down 25 points at $.9990 today. Prices closed nearer the session low today. Bears have the firm overall near-term technical advantage. The next upside price breakout objective for the FCOJ bulls is pushing and closing prices above technical resistance at the August high of $1.1000.

November lumber futures closed up $6.00 at $378.70 today. Prices closed near the session high today. The bulls have the overall near-term technical advantage. Prices are in a choppy, three-month-old uptrend on the daily bar chart.