Wednesday, March 16, 2016

Farm Commodity Settlements/CME, MARCH 16/2016 WEDNESDAY
MARKETS: PRICE SUPPLY/DEMAND DURING PREVAILING NEED DURING TRADING
TRENDS: LINES THROUGH HIGHER LOWS (UPWARD),  LOWER HIGHS (DOWNWARD)
TRADING: DAILY MOVEMENT RELATIVE TO POWER SUPPLY-DEMAND TRENDS AND TARGETS
TARGETS: PROJECTED:MEASURED PRICE OBJECTIVES OF TRADING, LENGTH OF MOVE
CORN: 30 CENT DAILY LIMIT                                           
TRENDS: UP/MORE-2ND REVISED+OPEN INTEREST DOWN+VOLUME MODERATE+WORLD STOCKS DOWN
TRADING: FLAT DAY 3+DECREASING+BUYING+TESTED/CLOSED ABOVE TREND AS SUPPORT  
TARGETS: 348  (358-366-371)  383  395      PREMIUM MARKET  FLAT HIGHS  LOWER CLOSE      
POSITIONS: NET SPREADS WIDENED, USER/LONG-BOUGHT LONG,  FUND/SHORT-SOLD SHORT
SOYBEANS: 70 CENT DAILY LIMIT
TRENDS: UP/MORE-2ND REVISED+OPEN INTEREST-UP+VOLUME LOW+WORLD STOCKS-DOWN 
TRADING: DOWN+DECREASING+NET BUYING+TESTED/CLOSED ABOVE TREND AS SUPPORT
TARGETS: 852  871  (885-896)  918  941    PREMIUM MARKET  LOWER HIGH  HIGHER CLOSE
POSITIONS: NET SPREADS NARROWED, USER/LONG-SOLD SHORT, FUND/SHORT-COVERED SHORT
WHEAT: 40 CENT DAILY LIMIT                                                       
TRENDS: UP/1ST REVISED+OPEN INTEREST DOWN+VOLUME LOW+WORLD STOCKS UP    
TRADING: DOWN+INCREASED+SELLING+BELOW/CLOSED BELOW TREND+FORMING A NEW HIGH    
TARGETS: 442  (468-488)  503  533  562    PREMIUM MARKET  LOWER HIGH  LOWER CLOSE    
POSITIONS: NET SPREADS NARROWED, USER/LONG-SOLD SHORT, FUND/SHORT-COVERED SHORT
CANADIAN DOLLAR/USD: 4.00 DOLLAR DAILY LIMIT-   
TRENDS: PRICE DOWN/LESS 3RD REVISED+ OPEN INTEREST DOWN+VOLUME-MODERATE
TRADING: UP+INCREASED+NET BUYING+TRYING TO BREAKOUT+NEED HIGHER CLOSE CONFIRMATION       
TARGETS:  (7780-7477)  7356  7320  7250  7073  6932  6720   POINT OF MAJOR RESISTANCE 
POSITIONS:: NET SPREADS NARROWED, USER/LONG-SOLD SHORT, FUND/SHORT-COVER'D SHORT 
HEATING OIL (ULSD): 25 CENT DAILY LIMIT
TRENDS: PRICE UP-1ST REVISED LESS+OPEN INTEREST DOWN+VOLUME MODERATE
TRADING: UP+INCREASED+BUYING+ABOVE TREND+@116+OVERBOUGHT  
TARGETS: 86  103  (116-126)  145  165   PREMIUM MARKET  HIGHER LOWS  HIGHER CLOSE
POSITIONS: NET SPREADS NARROWED, USER/LONG-SOLD LONG, FUND/SHORT MPMPMPMMPMPMPMPCOVERED SHORT
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