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FOOD & FIBER

September coffee closed higher on Thursday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 12.57 are needed to confirm that a short-term low has been posted. If September extends this year's decline, weekly support crossing at 11.31 is the next downside target.

September cocoa closed higher on Thursday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 32.79 would confirm that a low has been posted. If September resumes the decline off July's high, the 38% retracement level of the February-July-rally crossing at 31.12 is the next downside target.

October sugar closed lower on Thursday. The low-range close set the stage for a steady to lower opening on Friday. 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 year's decline, weekly support crossing at 10.44 is the next downside target. Closes above the 20-day moving average crossing at 11.89 are needed to confirm that a short-term low has been posted.

October cotton closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off June's high, April's low crossing at 62.90 is the next downside target. Closes above the 20-day moving average crossing at 65.56 are needed to confirm that a low has been posted.

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