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FOOD & FIBER

September coffee closed higher on Tuesday as it extends the rally off last week's low. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends this week's rally, the reaction high crossing at 146.35 is the next upside target. Closes below the 10-day moving average crossing at 138.89 would confirm that a short-term top has been posted. If September renews the decline off July's high, the reaction low crossing at 13.46 is the next downside target.

September cocoa closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 29.84 would confirm that a short-term top has been posted. If September renews the rally off July's low, July's high crossing at 31.66 is the next upside target.

October sugar closed higher on Tuesday. The high-range close set the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October renews the rally off July's low, June's high crossing at 21.22 is the next upside target. Closes below the 20-day moving average crossing at 19.73 would confirm that a short-term top has been posted.

October cotton closed higher on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends this month's decline, the 62% retracement level of the March-August-rally crossing at 64.12 is the next downside target. Closes above the 20-day moving average crossing at 71.66 would confirm that a low has been posted.

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