Friday, January 16, 2015

FARM COMMODITY SETTLEMENTS-CME JAN 16/2015 FRIDAY
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-down+open interest-up+supply-up
Trading: FLAT/LOST MOMENTUM+NET BUYING@LOW OF CHANNEL-SUPPORT NOT CHALLENGED 
TARGETS: 318-348-370-388-423-458                                      =LESS BEARISH                               
SOYBEANS- 70 cent daily limit
Net positions: commercials-less long/non-commercials-more long
Trends: CHANNEL-DOWN/GRADUALLY+OPEN INTEREST-UP+SUPPLY-UP
Trading: LOWER+LOST MOMENTUM+BUYING@985+LOW VOLUME+GOOD RESISTANCE
Targets: 1087-1014-985-959-917-883                     =LOOKS 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: FLAT/LOST MOMENTUM+NET SELLING+LOW VOLUME+NO SIGNIFICANT CHANGE   
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+OFSET+STEADY BUYING@LOW OF CHANNEL
Targets: 8981-8712-8604-8510-8353-8307-8227      =BEARISH
HEATING OIL- 25 cent daily limit
Net positions: commercials-less long/non commercials-less short
Trends: channel-down/steady+open interest-up
Trading: FLAT/LOST MOMENTUM+NET SELLING+TEST OF BOTTOM-PUTTING A STOP TO MOVE
Targets: 307-250-227-207-174-164                        =LESS BEARISH
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