Wednesday, January 11, 2017


FARM COMMODITY TREND ANALYSIS JANUARY/11/2017 WEDNESDAY

MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE ACTIVITY/STRENGTH OF TRADING
TREND CHANNEL: PARALLEL LINES JOINING HIGHER LOWS+TOPS  LOWER HIGHS+BOTTOMS 
TARGETS: DISTANCE (PROJECTED) MEASURED PRICE OBJECTIVES OF TRADING  (POSITION)
TRADING: ACTIVITY  DIRECTION  STRENGTH  RELATIVE LOCATION  TO CHANNEL/TARGETS     

CORN/CH17: 25 CENT DAILY LIMIT  FREE WORLD STOCKS/UP  MODERATE VOLUME
TREND CHANNEL: UP/GRADUAL  NARROW RANGE MONTHLY  FUTURES PREMIUM MAR17/DEC19
TRADING: BUYING  MORE ACTIVE  LOWER HIGH  TESTED SUPPORT AT CHANNEL BOTTOM/351 

TARGETS: UP  (351-360)  377  395  COMMITMENTS: HEDGER SOLD SHORT, SOLD LONG, LESS NET LONG

SOYBEANS/SH17: 65 CENT DAILY LIMIT  FREE WORLD STOCKS/UP  LOW VOLUME
TREND CHANNEL: DOWN/MODERATE  MEDIUM RANGE MONTHLY  FUTURES PREMIUM JAN17/AUG17
TRADING: BUYING  LESS ACTIVE  HIGHER LOW  TESTED SUPPORT AT BOTTOM/1005          
TARGETS: DOWN, 1022  (1005)  990  979  COMMITMENTS: HEDGER COVERED SHORT, LESS NET SHORT 

WHEAT/WH17: 35 CENT DAILY LIMIT  FREE WORLD STOCKS/UP   MODERATE VOLUME
TREND CHANNEL: UP/GRADUAL  NARROW RANGE MONTHLY   FUTURES PREMIUM  MAR17/JUL19
TRADING: NET SELLING  MORE  ACTIVE  LOWER HIGHS  DOWN THROUGH MID CHANNEL TO 411        
TARGETS: UP, 387  (411-424)  429  443  COMMITMENTS: HEDGER SOLD SHORT, LESS NET LONG

DOLLAR CAD/USD: CDH/17 4.00 DAILY LIIMIT.  LOW VOLUME
TREND CHANNEL: DOWN/MODERATE  WIDE RANGE MONTHLY  FUTURES  PREMIUM DEC16/DEC 21 
TRADING: MATCHED  MORE ACTIVE  OUTSIDE DAY  CONTINUING DOWN AT CHANNEL TOP/7556      
TARGETS: DOWN, (7656-7584-7556-7521))  COMMITMENTS: HEDGER BOUGHT LONG, MORE NET LONG  

HEATING OIL ULSD  HOG/17  25 CENT DAILY LIMIT,   HIGH VOLUME
TREND CHANNEL: UP,/GRADUAL  WIDE RANGE MONTHLY   FUTURES PREMIUM JAN17/JAN21

TRADING: NET BUYING  MORE ACTIVE  FLAT LOW  UP THROUGH RESISTANCE AT 164/UPPER CHANNEL  
TARGETS: UP, 151  (164)  169  177  COMMITMENTS: HEDGER  SOLD LONG, MORE NET SHORT
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