Hi Antifreeze.
I am bearish but maybe not as much as you are. 100 area is likely, maybe slightly below, don't see it going much lower for now. The possible rally of the BRL could limit the fall.

Also, commodity index repositioning should be supportive for KC. Many ags are higher than last year (grains), while KC is lower, meaning repositionning should see increased weight on KC and thus net buying. i've seen some estimates around 10thd lots. Not sure when the calculations are done but if KC continues to fall, might be more.

GT