Most-active Sep-23 FCOJ traded sideways in the week of Jun. 26, keeping below its high of 264.30 cents on Jun. 20. The contract closed twice above its 20-day average the week of Jun. 26 but failed to break retracement resistance around 261.10 and 262.25, settling Jun. 29 at 259.90, above the converging 20- and 60-day moving averages near 258.00. 

Nov-23 FCOJ traded sideways in the latter half of June, finding support near the 20-day moving average, which reached 251.58 as of the contract’s Jun. 29 settle of 254.65.  

Technicals are neutral for both contracts as of Jun. 29. 

The full version of this commentary appeared on our IQ platform Jun. 29, 2023. Further information, statistics, and pricing for the FCOJ market are available to IQ subscribers. Learn more about becoming a subscriber.


Source: 123rf.com
Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.