FARM GATE COMMODITIES-TREND ANALYSIS

• UPDATED SUNDAY FEBRUARY 26/2012 8:21 PM

* commercial hedging sets prices-narrow ranges

* non commercial speculation moves them-wide ranges

* resistance= projected selling point

* support=projected buying point

corn CH

-projections: 567-625, 668, 702, 770, 838, (17 1/2%=666)

-major trend: down, @firm resistance mid trend,

-minor trend: flat again-no volatility to move prices

soybeans SH

-projections: 1094-1168, 1224, 1267, 1353, 1400, 1439, 17.5%=1285,

-major trend: up, indicating trend to continue in narrow range

-minor trend: continues up, small steps=sign of strength

wheat WH

-projections: 577-628, 666, 696, 756, 815, (17 1/2%=668)

-major trend: up, narrow range, indicating last move to new high

-minor trend: down in a flat move, lethargic, no volatility

-cad dollars CDH

-projected: 9560-9710, 9822, 9910, 9980, 10085,

-major trend: up-medium range, indicating trend to continue

-minor trend: broke support toward a more moderate trend up

a reference when pricing your crop

settlements 5-mar-10

refers to the high-low price trends as traded, projected

corn may10 cme futures

monthly 425-300 trends converging-lower highs=bearish

today 388-37775 down-wider-low close=bearish

projected 446 422 397 385 369 348

soybeans may10 cme futures

monthly 1080-880 trends converging-lower highs=bearish

today 94950-93825 level-narrower-low close=bearish

projected 1134 1076 1017 988 950 900

wheat may10 cme futures

monthly 600-400 trends converging-lower highs=bearish

today 50850-492 down-same-low close=bearish

projected 590 552 530 514 496 471 439

lean hogs apr10 cme futures

monthly 8000-4300 trends up-testing 74300 high=less bullish

today 74125-73000 down-wider-low close-bearish

projected 7948 7487 7256 6960 6565

canadian dollar mar10 cme futures

monthly 9800-9300 trends up=testing 9775 high=less bullish

today 9746-9688 up-narrower-mid close=less bullish

projected 9775 9654 9533 9472 9394 9290

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