Friday, October 31, 2014

COMMODITY SETTLEMENTS-CME FRIDAY OCTOBER 31 2014

Markets-price supply/demand during relative strength trading
Trends-long term-downward-lower highs, upward-higher lows
Trading-move+prevailing strengths+activity+momentum
Targets-projected length of move
CORN- 35 cent daily trading limit, premium to back months
Net commitments: Commercials-sold short, investors-covered short
Trends: prices-upward, open interest-higher, volume-high, supply-up
Trading: down-day/1, resistance@371 barely held, net buying, gained
Targets: 371-388-423-452                            =BULLISH
SOYBEANS- 1 dollar daily trading limit, premium to back months
Net commitments: commercials-offset, investors-offset
Trends: prices-upward, open interest-lower, vol-moderate, supply-up
Trading: down-day/1, support@2nd adjusted up, net buying, gained
Targets: 993-1023-1082-1142                       =BULLISH
WHEAT- 45 cent daily trading limit,premium to back months
Net commitments: commercials-sold short, investors-covered short
Trends: prices-upward, open interest-down, volume-high, supply-up
Trading: down-day/1, support penetrated, offset buying, gained
Targets: 545-571-622-673                            =LESS BULLISH
CANADIAN DOLLAR- no daily trading limit
Net commitments: institutions-sold long, investors-bought long
Trends: prices-downward/old trend, open interest-higher, volume-low
Trading: down-day/2, lower high, support@8820, net selling, gained
Targets: 9076-9033-8962-8820-8678             =BEARISH
HEATING OIL- 25 cent daily trading limit, mostly flat to back months
Net Commitments: commercials-bought long, investors-sold short
Trends: prices-downward, open interest-up, volume-low
Trading: up-day/5, resistance@252 prevailed, offset buying, gained
Targets: 279-269-252-239                            =LESS BULLISH
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