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Reuters – Arabica coffee prices at 2-1/2-month high as shorts cover

Posted 07/28/2017 3:11PM CT | Peter Mooses

A focus on largest global sugar importer India’s imports after the country raised its import tax pressured prices, said Peter Mooses, senior market strategist for RJO Futures in Chicago.

“Expectations that the global sugar market will lift into a surplus for the 2017-18 season limited prices,” Mooses added.

Cocoa prices extended gains on worries that rains in the top-growing region West Africa may have caused damage to the current crop, Mooses said.

“If we don’t see heat to dry out the crop, it’ll probably carry through and continue with the rally,” Mooses said.

 

To read the rest of the article with Peter’s comments, click here.

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Peter Mooses

Senior Market Strategist
Follow Peter on Twitter @PMoosesRJO. Peter's interest in trading began during a college internship with Bunge North America on the floor of the Chicago Board of Trade, where he assisted commodities traders and performed market research and analysis. Upon earning a B.A. in economics from the University of Iowa, Peter served as an analyst, transaction manager and team lead in the Global Trust Divisions for LaSalle Bank and Bank of America, where he managed transaction activity in multi-million dollar client fixed income and asset-backed securities portfolios. After years in the banking industry, it became apparent that Peter's real passion lies in futures trading. He joined RJO Futures because he enjoys the analytical aspects of futures trading and appreciates the economic impact that commodities have across all markets. Peter believes in utilizing market analysis and trends to help clients achieve balance between risk and return, while always keeping their investment objectives top of mind.
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