Nearby Nov-23 FCOJ reached a fresh high Oct. 13 at 385.90 cents, above prior resistance near 376.00 cents. The contract traded the week of Oct. 16, finding support at 380.00 Oct. 18 and settling Oct. 19 at 385.35. RSI is bearish, MACD turned neutral, and the stochastic, while also neutral, is overbought.
Feb-24 FCOJ pulled away from its upper Bollinger Band during the week of Oct. 16 but did climb Oct. 19 to a fresh high of 377.95 cents. RSI is bearish; MACD is moderately bullish. The stochastic is nominally bullish but overbought.
Hurricane Norma has gained strength, rising to a Category 4, as it approaches Mexico’s Pacific Coast. Meanwhile, with the naming of Tropical Storm Tammy, 2023 has tied 1933 for the fourth-highest number of named storms in a single Atlantic hurricane season. The hurricane seasons with the most named storms have all been in this century: 2020, 2005, and 2021, with 30, 28, and 21 named storms, respectively.
The full version of this commentary appeared on our IQ platform Oct. 20, 2023. Further information, statistics, and pricing for the FCOJ market are available to IQ subscribers.Learn more about becoming a subscriber.
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.