Thursday, July 06, 2017


FARM COMMODITIES-TREND ANALYSIS-JULY 6/2017
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TRENDS: DOWN-LINE JOINS LOWER HIGHS, UP-LINE JOINS HIGHER LOWS 
TRADING: RELATIVE STRENGTH, POSITION OF PRICE RANGE,TREND,TARGETS

TARGETS: PROJECTED PRICE LEVELS AS OBJECTIVES/RESISTANCE/SUPPORT


CORN (SEP/17):
 $0.25/BU, FREE WORLD STOCKS ESTIMATED/FLAT-UP (325-396)              
TRENDS: PRICE-UP/MORE SO, OPEN INTEREST-UP (LAST-UP UPSIDE TREND)                 
TRADING: DOWN OFFSET BUYING STEADY BELOW TREND A TOP DOWNSIDE 397   

TARGETS: (379 387 397 405) COMMITMENTS OF TRADERS: NET POSITIONS-REDUCED

SOYBEANS (NOV/17):
 $0.70/BU, FREE WORLD STOCKS ESTIMATED/UP, (1196-910)
TRENDS: PRICE-DOWN/NOW GRADUAL OPEN INTEREST-DOWN (LAST-UP ON TREND)
TRADING: UP NET BUYING STEADY 2ND CLOSE ABOVE TREND MEETING RESISTANCE @1002 
TARGETS: (1014 1002 990 979) COMMITMENTS OF TRADERS: NET POSITIONS-INCREASED

 

WHEAT (SEP/17): $0.45/BU, FREE WORLD STOCKS ESTIMATED/UP, (390-575)         
TRENDS: PRICE-UP/STEEP, OPEN INTEREST-DOWN (LAST-UP ON TREND)           
TRADING: DOWN SELLING ABOVE TREND TOP @575 SUPPORT @ 535 OVERBOUGHT 
TARGETS: (526 535 555 575
), COMMITMENTS OF TRADERS: NET POSITIONS EVEN 

DOLLAR CAD/USD:
 (SEP/17)  4.00 DAILY LIIMIT,  RANGE: (7836-7261)

TRENDS: PRICE-UP/MODERATE OPEN INTEREST-UP (LAST-UP ON TREND)     
TRADING: FLAT MATCHED LESS STRENGTH ABOVE TREND TESTED SUPPORT@7718 TOPPY
TARGETS: (7671 7718 7753 7845)  COMMITMENTS OF TRADERS: NET POSITIONS REDUCED    


HEATING OIL ULSD: (AUG/17),  25 CENT DAILY LIMIT, (176-136)      
TRENDS: PRICE-DOWN/LESS GRADUAL, OPEN INTEREST-DOWN (LAST-DOWN ON TREND)
TRADING: FLAT NET SELLING LOST STRENGTH BELOW TREND-TESTED CLOSED BELOW 149     

TARGETS: (163 156 149 143)  COMMITMENTS OF TRADERS: NET POSITIONS INCREASED
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