Tuesday, December 02, 2014

COMMODITY SETTLEMENTS-CME DEC 2/2014 TUESDAY
Markets-price supply/demand during relative strength trading
Trends-major (long term), down-lower highs, up-higher lows
Trading-(range)+direction/momentum+activity+prevailing strength
Targets-projected length of move

CORN- 25 cent daily limit, futures @ premium mar/15 - july/16 
Net positions: commercials-more short/non commercials-more long
Trends: price-up/less, open interest-new low, volume-low, supply-up
Trading-flat/change in open interest/volume necessary to lift prices  
Targets: 371-388-423-452                                   =WEAK BULLISH  
SOYBEANS- 70 cent daily limit, futures @ premium mar/15 - aug/15
Net positions: commercials-more long, non-commercials-same long
Trends: PRICE-DOWN, OPEN INTEREST- VIRTUALLY FLAT, VOLUME-LOW, SUPPLY-UP
Trading: DOWN/SUPPLY APPEARS WEIGHING DOWN PRICES SINCE NOVEMBER EXPIRY
Targets: 985-959-917-853                                   =BEARISH
WHEAT- 35 cent daily limit, futures @ premium may/15 - may/16
Net positions: commercials-less long, non commercials-less short
Trends: price-up, open interest-up, volume-flat, supply-up
Trading: up/need change in open interest/volume-to move up   
Targets: 545-571-622-673                                 =CAUTIOUS BULLISH
CANADIAN DOLLAR- no daily limit, futures@discount jan/15-apr/15
NET POSITIONS: COMMERCIALS-LESS LONG, NON COMMERCIALS-LESS SHORT
Trends: price/down, open interest-down, volume-down
Trading: DOWN-FLAT/NEW MOVE TESTING TREND AS RESISTANCE-LACKS FORCE
Targets: 9076-9033-8965-8820-8678                    =NEUTRAL
HEATING OIL- 25 cent daily limit, futures@discount jan/15-APR/15
Net positions: commercials-more long, non commercials-less short
Trends: price-down, open interest-flat, volume-up
Trading: flat/buying@good support @2 trends-oversold-needs force
Targets: 272-263-249-220-190                             =LOOKS BEARISH

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