Monday, January 12, 2015

FARM COMMODITY SETTLEMENTS-CME JAN 12/2015 MONDAY
Markets-price supply/demand during relative strength trading
Trends-price channel, down-lower highs, up-higher lows
Trading-Movement+direction/momentum+activity+prevailing strength
Targets-projected length of move
CORN- 25 cent daily limit
Net positions: commercials-less short/non commercials-less long
Trends: channel-up/decelerating+open interest-up+supply-up
Trading: FLAT/GAINING MOMENTUM+TRADE OFF+SUPPORT@188+@LOW OF CHANNEL 
TARGETS: 318-348-370-388-423-458                                   =NEUTRAL                               
SOYBEANS- 70 cent daily limit
Net positions: commercials-less long, non-commercials-more long
Trends: CHANNEL-UP/DECELERATING+OPEN INTEREST-DOWN+SUPPLY-UP
Trading: LOWER/GAINED MOMENTUM+SELL OFF=SUPPORT@LOW OF CHANNEL+@1014
Targets: 1087-1014-985-959-917-883                     =BEARISH
WHEAT- 35 cent daily limit
Net positions: commercials-now long, non commercials-less long
Trends: channel-down/steady+open interest-flat+supply-up
Trading: LOWER/SAME MOMENTUM+NET SELLING+PENETRATED/CLOSED BEOW 558 AS SUPPORT   
Targets: 677-606-598-558-553-511-478                   =BEARISH
CANADIAN DOLLAR- no daily limit
NET POSITIONS: COMMERCIALS-MORE LONG, NON COMMERCIALS-MORE SHORT
Trends: channel-down/steady+open interest-up
Trading: LOWER/GAINED MOMENTUM+SELLING+@SUPPORT@LOW OF CHANNEL
Targets: 9076-9033-8965-8820-8678-8553-8393       =BEARISH
HEATING OIL- 25 cent daily limit
Net positions: commercials-less long, non commercials-less short
Trends: channel-down/steady+open interest-down
Trading: LOWER/STEADY MOMENTUM+NET SELLING+@164 AS SUPPORT
Targets: 307-250-227-207-174-164                         =BEARISH
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