Coffee And Soybeans Rally On A Dry South America
Dry weather in Brazil is giving a boost to coffee and soybeans Monday morning. Brazil is the world’s largest producer of coffee and trails the United States as the second largest exporter of soybeans.
Coffee is also getting a boost from speculators’ bets that a Brazilian Agriculture Ministry’s estimate on coffee production (expected in the next few days) will show significant damage to the crop. The coffee market has been volatile recently, in part due to uncertainty over the extent of damage caused by dry weather.
Soybeans gapped open and filled a gap left six days ago.
Stock indexes are mixed. From the Momentum-5 List, Nasdaq 100 futures are rallying while Dow futures are trading lower and making good on their Turtle Soup Plus One Sell setup.
Here are the highlights around noon Eastern time:
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Energies |
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Metals |
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Grains |
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Meats |
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Softs and Fibers |
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