Big Pat's farm commodities analysis. Get the best and most current analysis of trends, trading, targets for corn, wheat, soybeans, heating oil, Canadian Dollar.
Sunday, February 01, 2015
FARM COMMODITY SETTLEMENTS-CME JAN 30/2015 FRIDAY
Markets-price supply/demand during relative strength trading
Trends-price channel, down-lower highs, up-higher lows
Trading-move in channel/momentum+activity+prevailing strength
Targets-projected length of move
CORN- 25 cent daily limit
Net positions: commercials-less short/non commercials-less long
Trends: channel-down+open interest-up/more+supply-up/less
Trading: LOWER/DECELERATION+NET SELLING+CHANNEL LOW PASSES 359 IN 8 TRADING DAYS
PROJECTIONS: 419-392-382-373-359-347 =BEARISH
SOYBEANS- 70 cent daily limit
Net positions: commercials-more long/non-commercials-more short
Trends: CHANNEL-D0WN/SECOND REVISED+OPEN INTEREST-UP+SUPPLY--UP/MORE
Trading: DOWN/ACCELERATION+NET SELLING+PARALLEL TO NON COMS NET POSTION
Projections: 1087-1014-985-959-917-883 =BEARISH
WHEAT- 35 cent daily limit
Net positions: commercials-same long/non commercials-more short
Trends: channel-down+open interest-up/more+supply-up/more
Trading: LOWER/ACCELERATION+CHANNEL HIGH PASSES THROUGH 478 NEXT WEEK
Projections: 677-606-598-558-553-511-478 =BEARISH
CANADIAN DOLLAR- no daily limit
NET POSITIONS: COMMERCIALS-MLRE LONG/NON COMMERCIALS-MORE SHORT
Trends: channel-down/4th revised+open interest-down+volume-up
Trading: LOWER/ACCELERATION+NET SELLNG+BUYING BELOW/CLOSED ABOVE 7850
Projections: 8931-8545-8391-8256-8030-7850 =BEARISH
HEATING OIL- 25 cent daily limit
Net positions: commercials-less long/non commercials-less short
Trends: channel-down/third revised+open interest-up
Trading: UP/ACCELERATION+BROKE UP OUT OF CONSOLIDATION AT 164/AWAIT CONFIRMATION
Projections: 307-250-227-207-174-164 =LESS BEARISH
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