Wednesday, August 03, 2016

FARM COMMODITY SETTLEMENTS AUGUST 3/2016 WEDNESDAY 

MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING 
TREND: MONTHLY- LINE JOINING HIGHER LOWS (UPWARD), LOWER HIGHS (DOWNWARD) 
TRADING: SHORT TERM-RELATIVE STRENGTH OF HIGH/LOW PRICE RANGE(S)-DIRECTION 
TARGETS: PROJECTED: MEASURED PRICE OBJECTIVES OF MOVE 

CORN/CZ16: 25 CENT DAILY LIMIT                          TEST OF BOTTOM @ 333
TREND: DOWN, TARGETS 370-356-333-294. COMMITMENTS-LOSING MOMENTUM 
TRADING: RANGE UP-CONTRACTED-NET SELLING+ABOVE TREND-CLOSED UPSIDE 333 
FUTURES FORWARD AT PREMIUM-FREE WORLD STOCKS UP 

SOYBEANS/SX16 65 CENT DAILY LIMIT    3RD LOWER HIGH  BREAKOUT DOWN @ 968 
TREND DOWN, TARGETS: 1077-1050-1004-968-913. COMMITMENTS-LOSING MOMENTUM 
TRADING: RANGE FLAT CONTRACTED--NET SELLING+BELOW TREND+DOWNSIDE 968
FUTURES FORWARD AT DISCOUNT-WORLD STOCKS FLAT 

WHEAT/SU16: 35 CENT DAILY LIMIT                                 BREAKOUT DOWN  @ 415 
TREND: DOWN, TARGETS: 463-445-415-391 COMMITMENTS-MAINTAINED MOMENTUM 
TRADING: RANGE UP EXPANDED-NET BUYING-UPSIDE TREND-CLOSED DOWNSIDE 415 
FUTURES FORWARD AT PREMIUM-FREE WORLD STOCKS-UP 

DOLLAR CAN/USD: CDU16 4.00 DAILY LIIMIT. COMMITMENTS-MAINTAINED MOMENTUM 
TREND: DOWN, TARGETS: 8018-7761-7658-7568-7418-7298, 
TRADING: RANGE FLAT CONTRACTING-MATCHED BUYING-BELOW TREND-DOWNSIDE 7658 
BELOW TREND-ABOVE RESISTANCE AT 5 PREVIOUS LOWS 

HEATING OIL (ULSD)HOU16 25 CENT DAILY LIMIT  DOWN FROM 4 LOWER HIGHS 
TRENDS: DOWN, TARGETS: 158-142-136-130-121-113, COMMITMENTS-LOST MOMENTUM 
TRADING: RANGE FLAT CONTRACTED-BUYING-UPSIDE TREND+DOWNSIDE 130
DOWN FROM 5TH LOWER HIGH-NEW LOW-FUTURES FORWARD AT PREMIUM
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