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FOOD & FIBER

September coffee closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 12.74 would temper the near-term bearish outlook. If September resumes this month's decline, weekly support crossing at 10.20 is the next downside target.

September cocoa closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off July's high, the 62% retracement level of the February-July-rally crossing at 29.41 is the next downside target. Closes above the reaction high crossing at 31.42 are needed to confirm that a low has been posted.

October sugar closed lower on Friday but remains above the 20-day moving average crossing at 10.67 confirming that a short-term low has been posted. The mid-range close set the stage for a steady opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends this week's rally, the reaction high crossing at 11.64 is the next upside target. If October renews this year's decline, weekly support crossing at 9.44 is the next downside target.

October cotton closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off August's high, August's low crossing at 61.77 is the next downside target. Closes above the 10-day moving average crossing at 65.71 are needed to confirm that a short-term low has been posted.

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