Wednesday, May 02, 2018


FARM COMMODITIES-TREND ANALYSIS-CLOSE MAY 02/2018

MARKETS: PRICE SUPPLY/DEMAND USING PREVAILING MOMENTUM OF TRADING
TRENDS: PRICE DOWN-ON LOWER HIGHS. PRICE UP-ON HIGHER LOWS 
TRADING: POSITION/LENGTH OF PRICE RANGE. RELATIVE TO MOVES TRENDS TARGETS

TARGETS: PROJECTED PRICE LEVELS AS OBJECTIVES RESISTANCE SUPPORT


CORN (JUL/18): DAILY LIMIT $0.40/BU 
WORLD ENDING STOCKS PROJECTED DOWN 1.34 MMT           

TRENDS: PRICE 1ST UP-OPEN INTEREST (MAY 01) UP-(LONG BUYING)-LONG RANGE (449-325)
TRADING: FLAT/NARROWED-MOVE UP-BELOW TREND-RESISTANCE AGAIN@406-MATCHED OFFSET
TARGETS: (397-401-406)-410-415 433) COMMITMENTS OF TRADERS REPORT: NET LIQUIDATION

SOYBEANS (JUL/18): DAILY LIMIT $1.15/BU WORLD ENDING STOCKS PROJECTED DOWN 3.60 MMT
TRENDS: PRICE UP-OPEN INTEREST (MAY 01) DOWN (COVERING)-LONG RANGE (1186-844)
TRADING: DOWN/WIDENED-MOVE DOWN-ABOVE TREND-TESTED SUPPORT@1041-NET SELLING

TARGETS: (1018 (1030-1047-1062) COMMITMENTS OF TRADERS REPORT: NET LIQUIDATION 

WHEAT (JUL/18): DAILY LIMIT $0.55/BU WORLD ENDING STOCKS PROJECTED UP 2,33 MMT         
TRENDS: PRICE-UP/STEEP OPEN INTEREST (MAY 01) UP (OFFSET). LONG RANGE-(575-387)            
TRADING: UP/NARROWED-MOVE UP-ON TREND-MET RESISTANCE@535-OFFSET-LOOKS TOPPY.

TARGETS: (520 (525-530-535) 540 COMMITMENTS OF TRADERS REPORT: NET ACCUMULATION 

DOLLAR CAD/USD: (JUN/18) DAILY LIMIT $4.00 
TRENDS: PRICE DOWN-OPEN INTEREST (MAY 01) FLAT (OFFSET) LONG RANGE (8295-6810)
TRADING: UP/WIDENED-MOVE FLAT-MET RESISTANCE BELOW 7820 -MATCHED OFFSET
TARGETS: (7744 (7792-7820 7839) COMMITMENTS OF TRADERS REPORT: NET LIQUIDATION
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