LIVESTOCK: August live cattle closed down $0.72 at 

102.90 today. Prices closed near the session low today. A

big and bullish double-bottom reversal pattern stillcould 

be forming on the daily bar chart, to suggest a market 

bottom is in place. But right now the bears still havethe 

overall near-term technical advantage. 

August feeder cattle closed down $1.10 at $145.22 today. 

Prices closed nearer the session low on a corrective 

pullback from recent gains. The feeder cattle marketbulls 

and bears are on a level overall near-term technical 

playing field. A bullish double-bottom reversal patternhas 

formed on the daily chart. 

July lean hogs closed down $1.02 at $77.77 today. Prices 

closed near mid-range on more U.S. trade war worries 

impacting U.S. pork exports. The hog bears have theoverall 

near-term technical advantage. 

GRAINS: July corn futures closed down 10 1/4 cents at 

$3.80 1/2 today. Prices closed near the session low and 

closed at a 3.5-month low close today. The corn bearshave 

regained the overall near-term technical advantage. 

However, the market is now short-term oversold and due for

a corrective bounce very soon. 

July soybeans closed down 21 1/4 cents at $10.03 a bushel

today. Prices closed nearer the session low today. Bears 

have gained the overall near-term technical advantage and

have some momentum on their side. 

July soybean meal closed down $6.00 at $368.80 today. 

Prices closed near the session low and hit a two-monthlow 

today. The meal bulls have lost their overall near-term 

technical advantage. Prices are in a four-week-old 

downtrend on the daily bar chart. 

July bean oil closed down 27 points 30.96 cents today. 

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

overall near-term technical advantage. 

July SRW wheat closed down 15 3/4 cents at $5.07 1/4today. 

Prices closed nearer the session low. SRW bulls have lost

their near-term technical advantage. 

July HRW wheat closed down 19 1/4 cents at $5.21 1/2today. 

Prices closed nearer the session low today. The bullshave 

lost their near-term technical advantage. 

SOFTS: July sugar closed down 62 points at 11.90 cents 

today. Prices closed nearer the session low and hit atwo-

week low today. The sugar bears have the overallnear-term 

technical advantage and gained fresh momentum today. A 

five-week-old uptrend on the daily bar chart has been 

negated. 

July coffee closed down 130 points at 121.45 cents today.

Prices closed nearer the session low today. The coffee 

bears have the overall near-term technical advantage. 

July cocoa closed down $115 at $2,343 a ton today. Prices

closed nearer the session low and hit a three-month low 

today. The cocoa bears have the overall near-termtechnical 

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

daily bar chart. 

July cotton closed down 119 points at 92.11 cents today. 

Prices closed near the session low on profit taking. The 

bulls still have the solid overall near-term technical 

advantage. There are not yet any strong chart clues this 

market has reached a peak. 

July orange juice closed up 65 points at $1.6585 today. 

Prices closed nearer the session high today. While bulls 

still have the firm overall near-term technicaladvantage, 

recent pressure begins to suggest a market top is inplace. 

July lumber futures closed down $6.80 at $586.80 today. 

Prices closed near mid-range. Recent strong selling 

pressure still suggests a major market top is in place. 

METALS: August gold futures closed down $1.80 at 

$1,297.50 today. Prices closed near mid-range. Goldprices 

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

chart. The gold bears have the slight overall near-term 

technical advantage. 

July silver futures closed down $0.001 at $16.435 today. 

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

the slight overall near-term technical advantage. 

July N.Y. copper closed up 335 points at 313.20 cents 

today. Prices closed nearer the session high today. The 

copper bulls have regained the slight overall near-term 

technical advantage. 

ENERGIES: July Nymex crude oil closed down $0.93 at 

$64.88 today. Prices closed nearer the session low. The 

recent steep downdraft still suggests a major market topis 

in place. 

July heating oil closed down 243 points at $2.1520 today.

Prices closed near the session low and hit a three-weeklow 

today. Given the steep losses in crude oil, it’s also 

likely heating oil has topped out, too. The bulls still 

have the overall near-term technical advantage. 

July (RBOB) unleaded gasoline closed down 210 points at 

$2.1224 today. Prices closed near mid-range. Big lossesin 

crude recently suggest gasoline has peaked, too. Thebulls 

still have the overall near-term technical advantage. 

July natural gas closed down 3.6 cents at $2.926 today. 

Prices closed nearer the session low today. Bulls havethe 

overall near-term technical advantage amid recent choppy 

trading. 

CURRENCIES: The September Euro 

currency closed down 32 points at 1.1790 today. Prices 

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

overall near-term technical advantage. Prices are in atwo-

month-old downtrend on the daily bar chart. 

The September Japanese yen closed down 280 points at.91700 

today. Prices closed nearer the session low today. Bears 

have the overall near-term technical advantage. 

The September Swiss franc closed up 1 point at 1.0208 

today. Prices closed nearer the session low today. The 

Swissy bears have the overall near-term technical 

advantage. However recent price action suggests a market 

bottom is in place. 

The September Canadian dollar closed up 23 points at.7750 

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

the firm overall near-term technical advantage. 

The September British pound closed down 38 points at1.3374 

today. Prices closed nearer the session low today. The 

bears have the solid overall near-term technicaladvantage. 

Prices are in a six-week-old downtrend on the daily bar 

chart. 

The September U.S. dollar index closed down 0.154 at 93.575

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

the solid overall near-term technical advantage. Pricesare 

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

September U.S. T-Bonds closed down 24/32 at 143 6/32today. 

Prices closed nearer the session low. The bond marketbears 

have the overall near-term technical advantage. 

September U.S. T Notes closed down 13.0 (32nds) at119.14.0 

today. Prices closed nearer the session low today. The 

bears have the firm overall near-term technicaladvantage. 

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

solidly higher today. World stock markets were mostly 

higher overnight. U.S. stock indexes are pointed toward 

higher openings when the New York day session begins. 

Traders and investors are in generally upbeat moods 

following Friday’s stronger U.S. jobs report and easing 

concerns about the political situation in Italy. So far 

early this week, the marketplace is not reacting much to 

reports over the weekend that said the U.S. and Chinahave 

made no progress in their trade talks. Meantime, the U.S.

is getting heavily criticized by the European Union,Canada 

and Mexico for its protectionist trade posture. In other 

news overnight, the Euro zone producer price index for 

April was unchanged from March and up 2.0%, year-on-year.

Those numbers were lower than forecast.