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FOOD & FIBER

December coffee closed higher on Friday. The high-range close set the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off October's high, September's low crossing at 17.64 is the next downside target. If December extends this month's rally, the October 20th gap crossing at 20.85 is the next upside target.

December cocoa closed lower on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 28.82 would confirm that a low has been posted. If December renews the decline off September's high, the 62% retracement level of this year's rally crossing at 26.10 is the next downside target.

March sugar closed lower on Friday. The high-range close set the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 16.44 would confirm that a short-term low has been posted. If March turns lower, the reaction low crossing at 15.42 is the next downside target.

December cotton closed higher on Friday as it consolidates some of this month's decline. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this year's decline, monthly support crossing at 50.15 is the next downside target. Closes above the 20-day moving average crossing at 62.14 would confirmn that a low has been posted.

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