LIVESTOCK: August live cattle closed down $0.80 at 

107.92 today. Prices closed nearer the session low on 

profit taking after hitting a four-month high on Monday. 

The bulls have the overall near-term technical advantage. 

August feeder cattle closed down $0.52 at $152.72 today. 

Prices closed near mid-range today. The feeder cattle 

market bulls have the firm overall near-term technical 

advantage. Prices are in a two-month-old uptrend on the 

daily bar chart. 

August lean hogs closed down $0.92 at $65.50 today. Prices 

closed near the session low and hit another contract low 

today. The hog bears have the solid overall near-term 

technical advantage. 

GRAINS: December corn futures closed down 4 cents at 

$3.67 1/4 today. Prices closed near mid-range and saw some 

downside corrective action after hitting a two-week high on 

Monday. The bears have the overall near-term technical 

advantage. But now there are early chart clues that a 

market bottom is in place. 

November soybeans closed up 11 1/4 cents at $8.74 a bushel 

today. Prices closed nearer the session high, hit a two-

week high and scored a bullish “outside day” up on the 

daily bar chart. There was a bullish “key reversal” up 

confirmed on the daily bar chart last week, which is one 

early chart clue that a market bottom is in place. Also, a 

bullish weekly high close last Friday was a better chart 

clue that the bean market has put in a bottom. But make no 

mistake, the bulls have some heavy lifting to do in the 

near term to suggest a near-term price uptrend can be 

sustained. 

December soybean meal closed up $1.40 at $326.80 today. 

Prices closed nearer the session high today. Prices are 

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

December bean oil closed up 26 points at 28.58 cents today. 

Prices closed near the session high today on short 

covering. The bears still have the solid overall near-term 

technical advantage. 

December SRW wheat closed down 2 3/4 cents at $5.29 1/2 

today. Prices closed near mid-range on more mild profit 

taking after hitting a five-week high on Monday. SRW bulls 

have the overall near-term technical advantage. 

December HRW wheat closed down 1/2 cent at $5.36 1/4 today. 

Prices closed near mid-range and hit a five-week high 

today. The bulls and bears are on a level overall near-term 

technical playing field. 

SOFTS: October sugar closed up 11 points at 11.19 cents 

today. Prices closed near mid-range today on tepid short 

covering. Prices are not far above the recent contract low. 

The sugar bears have the solid overall near-term technical 

advantage. Prices are in a six-week-old downtrend on the 

daily bar chart. 

September coffee closed down 90 points at 110.75 cents 

today. Prices closed nearer the session low and scored a 

bearish “outside day” down today. The bears have the firm 

overall near-term technical advantage. Prices are in a 

seven-week-old downtrend on the daily bar chart. 

September cocoa closed down $42 at $2,257 a ton today. 

Prices closed nearer the session low and hit another four-

month low today. The cocoa bears have the overall near-term 

technical advantage. 

December cotton closed down 49 points at 86.32 cents today. 

Prices closed nearer the session low today. The bulls still 

have the near-term technical advantage. 

September orange juice closed down 195 points at $1.6590 

today. Prices closed nearer the session low on more profit 

taking. Bulls still have the firm overall near-term 

technical advantage. However, there is very strong chart 

resistance near the recent highs. 

September lumber futures closed up $7.20 at $484.50 today. 

Prices closed nearer the session high today. The bears have 

the overall near-term technical advantage. 

METALS: August gold futures closed down $0.40 at 

$1,225.20 today. Prices closed near mid-range. Prices are 

not far above last week’s 12-month-low. The gold bears have 

the solid overall near-term technical advantage. There are 

no strong, early clues to suggest a market bottom is close 

at hand.A three-month-old downtrend is in place on the 

daily bar chart. 

September silver futures closed up $0.095 at $15.52 today. 

Prices closed nearer the session high today and scored a 

mildly bullish “outside day” up on the daily bar chart. The 

silver bears have the solid overall near-term technical 

advantage. There are no early clues to suggest a market 

bottom is close at hand. 

September N.Y. copper closed up 635 points at 281.05 cents 

today. Prices closed nearer the session high today and 

scored a bullish “outside day” up on the daily bar chart. 

Heavy short covering was featured. The copper bears still 

have the firm overall near-term technical advantage. 

ENERGIES: September Nymex crude oil closed up $0.93 at 

$68.82 today. Prices closed nearer the session high today. 

The bulls have the overall near-term technical advantage.

September heating oil closed up 258 points at $2.1487 

today. Prices closed nearer the session high today. The 

bulls have the overall near-term technical advantage. 

September (RBOB) unleaded gasoline closed up 172 points at 

$2.0700 today. Prices closed near mid-range today. The 

bulls have the slight overall near-term technical 

advantage. 

September natural gas closed up 1.9 cents at $2.714 today. 

Prices closed nearer the session high today. Bears have the 

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

five-week-old downtrend on the daily bar chart. 

CURRENCIES: The September Euro 

currency closed down 10 points at 1.1726 today. Prices 

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

overall near-term technical advantage, amid recent sideways 

and choppy trading. 

The September Japanese yen closed up 165 points at .90190 

today. Prices closed near mid-range today. Short covering 

has been featured recently. Bears still have the firm 

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

week-old downtrend on the daily bar chart. 

The September Swiss franc closed down 10 points at 1.0106 

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

still have the solid overall near-term technical advantage. 

The September Canadian dollar closed up 11 points at .7608 

today. Prices closed nearer the session high today. The 

bears have the solid overall near-term technical advantage. 

The September British pound closed up 39 points at 1.3169 

today. Prices closed nearer the session high today. The 

bears have the solid overall near-term technical advantage. 

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

chart. 

The September U.S. dollar index closed down 0.040 at 94.400 

today. Prices closed near mid-range today. A bearish “key 

reversal” down has been confirmed on the daily bar chart, 

which is one early chart clue that a market top is in 

place. But right now the bulls still have the overall near-

term technical advantage. 

September U.S. T-Bonds closed up 8/32 at 143 1/32 today. 

Prices closed nearer the session high on short covering 

after hitting a five-week low early on today. The bond 

market bears have the overall near-term technical 

advantage. 

September U.S. T Notes closed steady at 119.15.5 today. 

Prices closed near mid-range and hit another four-week low 

today. The bears have the overall near-term technical 

advantage. 

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

higher today, with new multi-month or contract highs 

scored. World stock markets were also mostly higher 

overnight. Featured in the marketplace early this week is 

rising world government bond yields, on ideas the major 

central banks of the world will embark upon rolling back 

their heretofore easy monetary policies. Reports say the 

Bank of Japan is on the verge of scaling back its very 

accommodative policies. The key “outside markets” today 

find Nymex crude oil prices higher and trading just below 

$69.00 a barrel. Meantime, the U.S. dollar index is weaker 

today. The big U.S. economic data point of the week is 

Friday’s first estimate of gross domestic product (GDP). 

The number is expected to come in at up a strong 4.4%. 

However, some analysts are even calling for a number of 

5.0% or just above.