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FOOD & FIBER

SOFTS: March sugar closed up 5 points at 14.13 cents today. Prices closed nearer the session low. The sugar bears have the firm overall near-term technical advantage.

December coffee closed up 255 points at 126.85 cents today. Prices closed nearer the session high and saw short covering in a bear market. The coffee bears still have the firm overall near-term technical advantage.

December cocoa closed up $79 at $2,146 a ton today. Prices closed near the session high and hit a nearly seven-month high today. The cocoa bulls have the firm overall near-term technical advantage and gained more power today by producing a bullish upside “breakout” from a trading range and from previous chart resistance levels. Prices are in a two-month-old uptrend on the daily bar chart.

December cotton closed down 24 points at 67.39 cents today. Prices closed nearer the session low today and hit a two- month low. The cotton bears have the firm overall near-term technical advantage and gained more power today.

January orange juice closed up 210 points at $1.5235 today. Prices closed nearer the session high and scored a bullish “outside day” up on the daily bar chart. The FCOJ bulls have the overall near-term technical advantage.

November lumber futures closed up $3.40 at $427.10 today. Prices closed nearer the session high. The bulls have the solid overall near-term technical advantage.

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