RJO FuturesCast

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The market was boosted by speculators repositioning themselves, said Peter Mooses, senior market strategist with RJO Futures in Chicago. “There was a bounce in speculators holding onto their positions and adding to their positions,” Mooses said. Additionally, the International Sugar Organizations’ Friday forecast showing a 4.6 million-tonne global surplus against a 3.9 million deficit in the prior season, boosted prices, Mooses said.

 

Cocoa traded both sides on Monday, rebounding slightly after being oversold, Mooses said. “It’s trying to find a little support in the 1,800 level,” he 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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