COFFEE: (Trading Hours: 8:15am-11:30am CST) (Report, as of 12/20 close) Fund buying pushed the March contract to a new high of 107.75 today. Commercial buying has been present on breaks and the market has shown strength since closing over the psychological level of 100.00 last week. The market has been able to rally in the last month and a half as producer selling has not been present. Last week, the International Coffee Organization reported a production deficit for the 2005-2006 marketing year of 6-8 million bags versus the previous year. Crops from Brazil and Vietnam are expected to come in smaller. This has provided underlying support. Stocks in certified warehouses as of 12/16, were at 4,536,674 bags with 40,973 bags waiting to be graded. Support for March comes in at 105.00. Resistance is at 108.00.

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SUGAR: (Trading Hours: 8:00am-11:00am CST) (Report, as of 12/20 close) Fund buying supported the market today as prices were able to hold support last week of 8.40 basis March. There is a double-bottom at 8.44. Trade buying was present at these lower levels. However, producers have been selling the rallies and have been more present near the 9.00 level. Many traders are expecting cash demand to pick up from Russia and India early next year. There has been some cash activity from Middle Eastern countries and Indonesia. Funds and specs are still holding a large net-long position of over 87,000 contracts. If prices are unable to get above 9.00, we could see more long liquidation in the short-term. Longer-term traders should continue to buy these breaks as we could see tightness in the cash market going into the early part of next year. Support for March is at 8.70. Resistance is at 9.00.

OJ: (Trading Hours: 9:00am-12:30pm CST) (Report, as of 12/20 close) The January contract pushed to a new monthly high today of 86.95. The market has moved higher in the last week on cooler weather moving into the Florida citrus-growing regions. However, it does not look like there will be freezing temperatures that would affect the crop. But it did not stop the market from moving higher today. Traders will continue to monitor the weather as the freeze period runs through the middle of January. The market is already expecting a smaller Florida crop of 168 million boxes. Spread trading will be active ahead of first notice day for the January contract on January 3rd. Support for January is at 85.00. Resistance is at 87.00.

COTTON: (Trading Hours: 9:30am-1:15pm CST)  (Report, as of 12/20 close) Volume was light today as the March contract traded in a 60 point range today. Prices have been able to move higher since making a monthly low of 41.72 on 12/6. The market has found underlying support as traders are expecting better demand from China and the weaker dollar. The upside will continue to be limited as there are expectations for a large U.S. crop of 22.82 million bales. Ending stocks are estimated at 7.7 million bales. In order for this market to turn around, we will need to see strong export sales. Support for the March contract is 43.70. Resistance is at 45.00.