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FOOD & FIBER

SOFTS: March sugar closed up 17 points at 16.30 cents today. Prices closed near mid-range on more short covering. Sugar bears still have the overall near-term technical advantage.

December coffee closed down 275 points at 189.60 cents today. Prices closed near the session low and closed at a four-week low close. The coffee bears have the near-term technical advantage.

December cocoa closed up $22 at $2,945 a ton today. Prices closed nearer the session high on short covering after hitting a 5.5-month low early on today. Bears still have the near-term technical advantage. Prices are in a steep four-week-old downtrend on the daily bar chart.

December cotton closed up 88 points at 65.35 cents today. Prices closed nearer the session high and hit a six-week high today. More short covering was featured. Cotton bears still have the overall near-term technical advantage.

November orange juice closed down 115 points at $1.3590 today. Prices closed nearer the session low today. The FCOJ bears have the overall near-term technical advantage. Prices are in a three-month-old downtrend on the daily bar chart.

November lumber futures closed down $5.40 at $321.60 today. Prices hit a three-month low. Bears have the near-term technical advantage. The next downside technical breakout objective for the lumber bears is pushing and closing prices below solid technical support at $310.00.

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