LIVESTOCK: December live cattle closed down $1.32 at 

$117.12 today. Prices closed nearer the session low on 

profit taking after hitting a 6.5-month high last week. The 

live cattle bulls still have the firm overall near-term 

technical advantage. 

November feeder cattle closed down $1.80 at $156.00 today. 

Prices closed nearer the session low on more profit taking 

after hitting a contract high last week. The feeder cattle 

market bulls still have the firm overall near-term 

technical advantage. 

December lean hogs closed down $0.30 at $57.10 today. 

Prices closed nearer the session low today. The bulls have 

the overall near-term technical advantage. Prices are in a 

six-week-old uptrend on the daily bar chart. 

GRAINS: December corn futures closed up 3 3/4 cents at 

$3.61 today. Prices closed nearer the session high today on 

more short covering. Corn bears still have the overall 

near-term technical advantage. However, seasonals and the 

present daily chart posture suggest a market bottom is 

likely to occur sooner rather than later. And the bullish 

weekly high close on Friday is also a clue the market has 

already bottomed out. 

November soybeans closed down 6 3/4 cents at $8.40 1/2 a 

bushel today. Prices closed near mid-range today. The bears 

still have the overall near-term technical advantage. 

However, the bullish weekly high close last Friday is one 

technical clue that the market has bottomed out. 

December soybean meal closed down $1.40 at $307.50 today. 

Prices closed near mid-range. The bears have the firm 

overall near-term technical advantage. 

December bean oil closed up 15 points at 28.49 cents today. 

Prices closed near mid-range today and hit a three-week 

high. The bears still have the overall near-term technical 

advantage. But recent gains suggest a market bottom is now 

in place. 

December SRW wheat closed up 4 1/2 cents at $5.26 1/4 

today. Prices closed near mid-range today on short 

covering. SRW bears still have the overall near-term 

technical advantage. However, a six-week-old downtrend on 

the daily bar chart is almost negated. 

December HRW wheat closed up 3 3/4 cents at $5.29 today. 

Prices closed near mid-range today. The bears still have 

the overall near-term technical advantage. 

SOFTS: October sugar closed down 46 points at 10.38 

cents today. Prices closed nearer the session low and hit a 

three-week low today. The sugar bears have the firm overall 

chart advantage. 

December coffee closed down 185 points at 98.05 cents 

today. Prices closed nearer the session low today. The 

bears have the solid overall near-term technical advantage. 

Prices are in a four-month-old downtrend on the daily bar 

chart. 

December cocoa closed up $54 at $2,221 a ton today. Prices 

closed near mid-range today on short covering. The cocoa 

bears still have the firm overall near-term technical 

advantage amid a four-week-old price downtrend in place on 

the daily chart. 

December cotton closed down 9 points at 79.04 cents today. 

Prices closed near mid-range today. The bears have the firm 

overall level near-term technical advantage. A bear flag or 

pennant pattern has formed on the daily bar chart. 

November orange juice closed down 70 points at $1.4655 

today. Prices closed nearer the session low today. Bears 

have the firm overall near-term technical advantage. Prices 

are in a two-month-old downtrend on the daily bar chart. A 

bearish pennant pattern has just formed on the daily bar 

chart. 

November lumber futures closed up $1.10 at $341.40 today. 

Prices today saw short covering after hitting a contract 

low last week. The bears have the solid overall near-term 

technical advantage. 

METALS: December gold futures closed up $3.50 at 

$1,204.70 today. Prices closed near mid-range today. The 

gold bears still have the overall near-term technical 

advantage. However, prices have been trading sideways for 

the past month, which begins to suggest a market bottom is 

in place. 

December silver futures closed down $0.004 at $14.355 

today. Prices closed nearer the session high today. The 

silver bears still have the solid overall near-term 

technical advantage. 

December N.Y. copper closed down 230 points at 283.45 cents 

today. Prices closed nearer the session high today and saw 

profit taking after hitting a seven-week high last Friday. 

The copper bears still have the overall near-term technical 

advantage, but recent good gains suggest a market bottom is 

in place. 

ENERGIES: November Nymex crude oil closed up $1.37 at 

$72.17 today. Prices closed nearer the session high and hit 

a contract and eight-month high today. The bulls have the 

solid overall near-term technical advantage, but prices 

have stalled out around these present levels in past 

months. 

November heating oil closed up 587 points at $2.2893 today. 

Prices closed nearer the session high today. The bulls have 

the firm overall near-term technical advantage as prices 

are not far below the contract high. 

November (RBOB) unleaded gasoline closed up 437 points at 

$2.0458 today. Prices closed nearer the session high and 

hit a four-month high today. The bulls have the firm 

overall near-term technical advantage. 

November natural gas closed up 5.9 cents at $3.033 today. 

Prices closed near the session high and hit a three-month 

high today. Bulls have the overall near-term technical 

advantage. 

CURRENCIES: The December Euro 

currency closed up 6 points at 1.1832 today. Prices closed 

near mid-range today and scored a 10-week high today. 

Recent price action, including an uptrend in place on the 

daily bar chart, suggests a market bottom is in place. 

The December Japanese yen closed down 155 points at .89250 

today. Prices closed near the session low and closed at a 

contract low close today. Bears have the solid overall 

near-term technical advantage. 

The December Swiss franc closed down 56 points at 1.0455 

today. Prices closed near the session low on profit taking 

after hitting a five-month high on Friday. The Swissy bulls 

have the overall near-term technical advantage. Prices are 

in an uptrend on the daily bar chart. 

The December Canadian dollar closed down 13 points at .7738 

today. Prices closed near mid-range today on profit taking 

after hitting a 3.5-month high last week. The bulls and 

bears are on a level overall near-term technical playing 

field. 

The December British pound closed up 40 points at 1.3167 

today. Prices closed near mid-range today. The bears have 

the overall near-term technical advantage. However, prices 

have been trending higher for six weeks. 

The December U.S. dollar index closed down 0.003 at 93.795 

today. Prices closed nearer the session high today. The 

bulls have faded. Prices are in a five-week-old downtrend 

on the daily bar chart. 

December U.S. T-Bonds closed down 8/32 at 140 7/32 today. 

Prices closed near mid-range and closed at a four-month low 

close today. The bond market bears have the firm overall 

near-term technical advantage. Prices are in a steep 

downtrend on the daily bar chart. 

December U.S. T Notes closed down 2.5 32nds at 118.19.5 

today. Prices closed near mid-range and closed at a four-

month low close today. The bears have the firm overall 

near-term technical advantage amid a price downtrend in 

place on the daily bar chart. 

GENERAL STOCK MARKET COMMENT: The U.S. stock indexes closed 

mixed today. World stock markets were mostly lower 

overnight. There is a bit more risk aversion in the world 

marketplace to start the trading week, as U.S.-China trade 

tensions are back on the front burner after China accused 

President Trump of being a trade bully and cancelled trade 

talks that had been set up for this week. And tariffs on 

$200 billion more in Chinese imports to the U.S. are set to 

kick in today. Stocks markets in China, Japan and South 

Korea were closed Monday for a holiday. Focus this week 

will also be the Federal Reserve’s two-day Open Market 

Committee (FOMC) meeting that begins Tuesday. The FOMC is 

expected to slightly raise U.S. interest rates at this 

meeting. Fed Chairman Jerome Powell will also hold a press 

conference after the meeting. The key outside markets today 

saw the U.S. dollar index slightly lower. Prices Friday hit 

a 2.5-month low. The greenback bears have downside 

technical momentum to suggest a market top is in place for 

the USDX. Meantime, November Nymex crude oil prices were 

higher and hit a contract high today, and trading just 

above $72.00 a barrel.