Wednesday, May 17, 2017


FARM COMMODITY/TREND ANALYSIS/ MAY 17/2017 
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TRENDS: LINES, LONG TERM, JOINING, LOWER HIGHS/DOWN, HIGHER LOWS/UP 
TARGETS:  RESISTANCE/SUPPORT LEVELS, OBJECTIVES (PROJECTED)
 
TRADING: DIRECTION, STRENGTH, RELATIVE LOCATION TO TRENDS/TARGETS 

CORN (JUL/17): $0.25/BU, DAY 1 LIMIT, FREE WORLD STOCKS PROJECTED/DOWN,                
TREND: MONTHLY-LINE/UP, OPEN INTEREST/UP             RANGE (351-385)   
TRADING: HIGHER, BUYING, CONVERGING TRENDS, MET RESISTANCE @ TOP/972     

TARGETS: UP, (351 360 372 377 385), RELATIVE STRENGTH OF COMMITMENTS/UP,  

SOYS (JUL/17): $0.70/BU, DAY 1 LIMIT, FREE WORLD STOCKS PROJECTED/DOWN,
TREND: MONTHLY-LINE/DOWN, OPEN INTEREST/UP    RANGE (987-943)
TRADING: HIGHER, OFFSET SELLING, NO BREAKOUT UP, NO HIGHER CLOSE 

TARGETS: DOWN, (978 968 954 943)  RELATIVE STRENGTH OF COMMITMENTS/DOWN

WHEAT (JUL/17): $0.30/BU INITIAL LIMIT, FREE WORLD STOCKS PROJECTED/DOWN,         
TREND: MONTHLY-LINE/UP, OPEN INTEREST/UP              RANGE (422-457)
TRADING: LOWER, OFFSET BUYING, CONTINUED SUPPORT @ 422/TREND                           
TARGETS: UP, (422 434 443 457 480)  RELATIVE STRENGTH OF COMMITMENTS/FLAT

DOLLAR CAD/USD: (JUN/17)  4.00 DAILY LIIMIT.       UPSIDE TREND/7332                              
TREND: MONTHLY-LINE/DOWN, OPEN INTEREST/FLAT      RANGE (7717-7260)-
TRADING: FLAT, BUYING, UPSIDE TREND, NEW LEG UP, MEETING 7362/RESISTANCE                         
TARGETS: (7433 7362 7332 7298 7260)  RELATIVE STRENGTH OF COMMITMENTS/UP     

HEATING OIL ULSD: (JUN/17),  25 CENT DAILY LIMIT,                        
TREND: MONTHLY-LINE DOWN, LESS SO, OPEN INTEREST/DOWN, RANGE (164-141)

TRADING: FLAT, BUYING, MET 153/RESISTANCE, ABOVE TREND,  POSSIBLE TOP  
TARGETS: DOWN, (164 153 146 141)  RELATIVE STRENGTH OF COMMITMENTS/DOWN,
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