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Choppy to Higher Uptrend in Coffee


While cocoa has been reluctant to close above its 50-day moving average, the market remains well clear of last week’s 2 1/2 month lows. If global risk sentiment continues to improve, cocoa should be able to regain and sustain upside momentum.


Coffee has continued its coiling price pattern into the last week of October as the market has gradually climbed its way back towards a retest of its late July highs. With bullish supply developments and improving global demand, coffee may be heading for new multi-year highs.


December cotton closed slightly higher yesterday after spending the session inside Monday’s range. The market has been consolidating since putting in a contract high on October 7. The dollar was up for the second day in a row, which is not favorable to US export sales.


While it has been pressured by a sluggish Brazilian currency and an improving production outlook for India, Thailand and the EU, sugar continues to find underlying support from Brazilian supply developments. After a fresh reminder of this season’s Brazilian shortfall, sugar prices can maintain upside momentum.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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