Tuesday, May 02, 2017


FARM COMMODITY TREND ANALYSIS MAY 02/2017 TUESDAY
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TRENDS: LINES, LONG TERM, JOINING, LOWER HIGHS/DOWN, HIGHER LOWS/UP 
TARGETS: (PROJECTED) RESISTANCE/SUPPORT LEVELS, OBJECTIVES
 
TRADING: DIRECTION, STRENGTH, RELATIVE LOCATION TO TRENDS/TARGETS

CORN (JUL/17): $0.25/BU INITIAL LIMIT, NET WORLD STOCKS/UP      HIGHER LOWS            
TREND: MONTHLY-LINE/UP, OPEN INTEREST/DOWN (LONG LIQUIDATION)
TRADING: FLAT/LEG UP, SELLING, FIRM RESISTANCE @ HIGHS/CONVERGING TREND     

TARGETS: UP  (351 360 372 385)  COMMITMENTS REPORT = MORE STRENGTH

SOYS (JUL/17): $0.70/BU INITIAL LIMIT, NET WORLD STOCKS DOWN  HIGHER LOWS
TREND: MONTHLY-LINE/DOWN, OPEN INTEREST/DOWN-FLAT (LESS LIQUIDATION))
TRADING: UP/LEG UP, OFFSET SELLING, SUPPORT @ PREVIOUS HIGHS/TREND/968  
 
TARGETS: DOWN, (1004 968 954 943)  COMMITMENTS REPORT= MORE STRENGTH

WHEAT (JUL/17): $0.30/BU INITIAL LIMIT, NET WORLD STOCKS-UP,    HIGHER LOWS     
TREND: MONTHLY-LINE/UP, OPEN INTEREST/DOWN (SHORT COVERING
TRADING: UP/LEG UP, NET SELLING, TESTED RESISTANCE @ RECENT HIGHS/457,                       
TARGETS: UP, (411 422 434 457 480)  COMMITMENTS REPORT = MORE STRENGTH  

DOLLAR CAD/USD: (JUN/17)  4.00 DAILY LIIMIT.       NEW LOW           LOWER HIGHS     
TREND: MONTHLY-LINE/DOWN (MORESO), OPEN INTEREST/UP (SHORT SELLING)
TRADING: FLAT/LEG DOWN, NET SELLING, BELOW STEEP REVISED TREND/7332                   
TARGETS: DOWN, (7521 7416 7332 7206)  COMMITMENTS REPORT =-MORE STRENGTH     

HEATING OIL ULSD: (JUN/17) (NEW)  25 CENT DAILY LIMIT,                LOWER HIGHS 
TREND: MONTHLY-LINE DOWN, OPEN INTEREST/DOWN/FLAT (LESS LIQUIDATION)
TRADING: DOWN/BREAKOUT DOWN BELOW TREND/151 ACCELERATING,    

TARGETS: DOWN, (153 146 134 111)  COMMITMENTS REPPORT = LESS STRENGTH
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