Thursday, March 17, 2016

Farm Commodity Settlements/CME, MARCH 17/2016 THURSDAY
MARKETS: PRICE SUPPLY/DEMAND DURING PREVAILING NEED DURING TRADING
TRENDS: LINES THROUGH HIGHER LOWS (UPWARD),  LOWER HIGHS (DOWNWARD)
TRADING: DAILY MOVEMENT RELATIVE TO PACE 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: UP+INCREASING+SELLNG+MET RESISTANCE@371+TESTED/CLOSED@366 SUPPORT  
TARGETS: 348  358  (366-371)  383  395      PREMIUM MARKET  ON TREND AS SUPPORT      
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 HIGH+WORLD STOCKS-DOWN 
TRADING: UP+INCREASING+NET BUYING+ABOVE TREND TESTED/COLSED@896
TARGETS: 852  871  (885-896)  918  941    PREMIUM MARKET  HIGHER LOW  HIGHER CLOSE
POSITIONS: NET SPREADS NARROWED, USER/LONG-SOLD SHORT, FUND/SHORT-COVERED SHORT
WHEAT: 40 CENT DAILY LIMIT                                                       
TRENDS: UP/1ST REVISED LESS+OPEN INTEREST DOWN/LESS+VOLUME MODERATE+STOCKS UP    
TRADING: DOWN+INCREASED+NET SELLING+BELOW TREND+TESTED/CLOSED BELOW 468 AS SUPPORT   
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+3RD REVISED/LESS+ OPEN INTEREST DOWN+VOLUME-MODERATE
TRADING: UP+DECREASED+NET BUYING+ROLLING+COVERING FORMED A SUSPECTED SPIKE (TOP)       
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 HIGH
TRADING: UP+DECREASED+BUYING+ABOVE TREND+@116 AS SUPPORT+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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