KEY EVENTS TO WATCH FOR:

Friday, July 6, 2018   

8:30 AM ET. U.S. Weekly Export Sales

                       Corn (Metric Tons) (previous 1486.7K)

                       Soybeans (Metric Tons) (previous 1000.8K)

                       Wheat (Metric Tons) (previous 563.7K)

8:30 AM ET. June U.S. Employment Report

                       Non-Farm Payrolls (expected +195K; previous +223K)

                       Unemployment Rate (expected 3.8%; previous 3.8%)

                       Avg Hourly Earnings (USD) (previous 26.92)

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.08)

                       Avg Hourly Earnings, M/M% (expected +0.3%; previous +0.3%)

                       Avg Hourly Earnings, Y/Y% (previous +2.7%)

                       Overall Workweek (previous 34.5)

                       Overall Workweek Net Chg (previous +0)

                       Government Payrolls (previous +5K)

                       Private Payroll (previous +218K)

                       Participation Rate (previous 62.7%)

                       Non-Farm Payrolls Bench Net Chg

8:30 AM ET. May U.S. International Trade in Goods & Services

                       Trade Balance (USD) (expected -43.6B; previous -46.20B)

                       Exports (USD) (previous 211.25B)

                       Exports, M/M% (previous +0.3%)

                       Imports (USD) (previous 257.44B)

                       Imports, M/M% (previous -0.2%)

10:30 AM ET. EIA Weekly Natural Gas Storage Report

                       Working Gas In Storage (Cbf) (previous 2074B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +66B)

  N/A               U.S. and China impose tariffs on each other's products

Monday, July 9, 2018   

10:00 AM ET. June Employment Trends Index

                       ETI (previous 107.69)

                       ETI, Y/Y% (previous +3.9%)

3:00 PM ET. May Consumer Credit

                       Consumer Credit Net Chg (USD) (previous +9.26B)

The STOCK INDEXES http://quotes.ino.com/ex changes/?c=indexes"  

The STOCK INDEXES:The September NASDAQ 100 was lower overnight following the implementation of much-anticipated import tariffs by the Trump administration and China. Investors are also focused on a closely watched monthly jobs report.Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 7169.23 are needed to confirm that a short-term low has been posted. Closes below the reaction low crossing at 6956.00 would open the door for additional weakness near-term. First resistance is June's high crossing at 7358.50. Second resistance is unknown. First support is the reaction low crossing at 6956.00. Second support is the reaction low crossing at 6855.50.    

The September S&P 500 was slightly lower overnight. However,stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 2752.68 are needed to confirm that a short-term low has been posted. If September renews the decline off June's high, the reaction low crossing at 2681.00 is the next downside target.First resistance is the 20-day moving average crossing at 2752.68. Second resistance is June's high crossing at 2795.50. First support is last-Thursday's low crossing at 2694.50. Second support is the reaction low crossing at 2681.00.      

INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"

INTEREST RATES: September T-bonds were slightly higher overnight. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, the 62% retracement level of the 2017-2018  decline crossing at 147-09 is the next upside target. Closes below the 20-day moving average crossing at 144-05 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is May's high crossing at 145-28. Second resistance is the 62% retracement level of the 2017-2018  decline crossing at 147-09. First support is the 20-day moving average crossing at 144-05. Second support is June's low crossing at 142-01.

September T-notes were slightly higher overnight as it extends the trading range of the past six-days. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, May's high crossing at 121.030 is the next upside target. Closes below the 20-day moving average crossing at 119.275 would confirm that a short-term top has been posted. First resistance is May's high crossing at 121.030. Second resistance is the 62% retracement level of the 2017-2018 decline crossing at 121.212. First support is June's low crossing at 118.295. Second support is May's low crossing at 117.300.   

ENERGY MARKETS http://quotes.ino.com/ex changes/?c=energy"

ENERGY MARKETS: AugustNymex crude oil was lower overnight as it consolidates some of the rally off June's low. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term.Closes below the 20-day moving average crossing at 68.92 would confirm that a short-term top has been posted. If August extends the rally off June's low, the 75% retracement level of the 2014-2016 decline crossing at 77.08 is the next upside target.First resistance is Tuesday's high crossing at 75.27. Second resistance is the 75% retracement level of the 2014-2016 decline crossing at 77.08. First support is the 10-day moving average crossing at 72.18. Second support is the 20-day moving average crossing at 68.92.    

August heating oil was lower overnight as it extends the trading range of the past five-days. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 214.73 are needed to confirm that a short-term top has been posted. If August resumes the rally off June's low, the reaction high crossing at 224.21 is the next upside target. First resistance is the reaction high crossing at 224.21. Second resistance is May's high crossing at 229.60. First support is the 50% retracement level of the February-May-rally crossing at 205.35. Second support is the 62% retracement level of the February-May-rally crossing at 199.62.

August unleaded gas was lower overnight while extending the trading range of the past five-days. Stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 207.52 are needed to confirm that a short-term top has been posted. If August resumes the rally off June's low, the reaction high crossing at 219.04 is the next upside target. First resistance is the reaction high crossing at 219.04. Second resistance is May's high crossing at 226.86. First support is the 62% retracement level of the February-May-rally crossing at 198.55. Second support is the 75% retracement level of the February-May-rally crossing at 192.52.

August Henry natural gas was steady to slightly higher overnight as it consolidates some of the decline off June's high.Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends the decline off June's high, May's low crossing at 2.727 is the next downside target. Closes above the 20-day moving average crossing at 2.929 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2.929. Second resistance is June's high crossing at 3.018. First support is Thursday's low crossing at 2.822. Second support is May's low crossing at 2.727.  

CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"

CURRENCIES:The September Dollar was lower overnight. Stochastics and the RSI are neutral to bearish hinting that a short-term top might be in or is near. If September extends the decline off June's high, the 50-day moving average crossing at 93.41 is the next downside target. If September renews the rally off April's low, weekly resistance crossing at 97.70 is the next upside target. First resistance is June's high crossing at 95.26. Second resistance is weekly resistance crossing at 97.70. First support is the 50-day moving average crossing at 93.41. Second support is June's low crossing at 92.76.

The September Euro was higher overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, the 50-day moving average crossing at 118.60 is the next upside target. If September renews the decline off February's high, the 62% retracement level of the 2016-2018 rally crossing at 115.36 is the next downside target. First resistance is the 50-day moving average crossing at 118.60. Second resistance is the reaction high crossing at 119.40. First support is the 62% retracement level of the 2016-2018 rally crossing at 115.36. Second support is the 75% retracement level of the 2016-2018 rally crossing at 112.79.

The September British Pound was higher overnight. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1.3294 are needed to confirm that a short-term low has been posted. If September renews the decline off April's high, weekly support crossing at 1.3048 is the next downside target. First resistance is the 20-day moving average crossing at 1.3294. Second resistance is the 50-day moving average crossing at 1.3456. First support is June's low crossing at 1.3095. Second support is weekly support crossing at 1.3048.  

The September Swiss Franc was steady to slightly higher overnight as it extends the trading range of the past two-months. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above last Monday's high crossing at 1.0219 would confirm that a short-term low has been posted. If September resumes the decline off June's high, May's low crossing at 1.0057 is the next downside target. First resistance is the 25% retracement level of the February-May-decline crossing at 1.0300. Second resistance is the 38% retracement level of the February-May-decline crossing at 1.0431. First support is last-Thursday's low crossing at 1.0075. Second support is May's low crossing at 1.0057. 

The September Canadian Dollar was steady to slightly higher overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, the 50-day moving averagecrossing at 77.12 is the next upside target. If September renews the decline off April's high, the 62% retracement level of the 2016-2017-rally crossing at 74.54 is the next downside target.First resistance is the 50-day moving average crossing at 77.12. Second resistance is June's high crossing at 77.94. First support is the 62% retracement level of the 2016-2017-rally crossing at 74.54. Second support is the 75% retracement level of the 2016-2017-rally crossing at 72.83.  

The September Japanese Yen was steady to slightly higher overnight. Stochastics and the RSI are turning neutral to bullish signaling that a short covering rebound is possible near-term. Closes above the 50-day moving average crossing at 0.9164 are needed to confirm that a short-term low has been posted. If September extends the decline off May's high, the 87% retracement level of the October- crossing at 0.9006 is the next downside target. First resistance is the 50-day moving average crossing at 0.9164. Second resistance is May's high crossing at 0.9320. First support is Tuesday's low crossing at 0.9044. Second support is the 87% retracement level of the October- crossing at 0.9006. 

PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"

PRECIOUS METALS: August gold was lower overnight but remains above support marked by the 62% retracement of the 2016-2018 rally crossing at 1242.20. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends the decline off April's high, the 75% retracement of the 2016-2018 rally crossing at 1213.00 is the next downside target. Closes above the 20-day moving average crossing at 1273.20 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1256.80. Second resistance is the 20-day moving average crossing at 1273.20. First support is the 62% retracement of the 2016-2018 rally crossing at 1242.20. Second support is the 75% retracement of the 2016-2018 rally crossing at 1213.00.

July silver was slightly lower overnight. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off June's high, the April-2016 low crossing at 15.373 is the next downside target. Closes above the 50-day moving average crossing at 16.453 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 16.082. Second resistance is the 50-day moving average crossing at 16.453. First support is Monday's low crossing at 15.730. Second support is the April-2016 low crossing at 15.373. 

July copper was lower overnight as it extends the decline off June's high. The mid-range trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off May's high, the 50% retracement level of the 2017-2018 rally crossing at 266.32 is the next downside target. Closes above the 20-day moving average crossing at 304.82 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 293.44. Second resistance is the 20-day moving average crossing at 304.82. First support is the overnight low crossing at 278.55. Second support is the 50% retracement level of the 2017-2018 rally crossing at 266.32. 

GRAINS http://quotes.ino.com/ex changes/?c=grains

December corn was steady to fractionally higher overnight. Trade tariffs kicked in at midnight and along with a lack of weather threat across much of the Midwest will likely to keep December corn on the defensive near-term.The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are. If December extends the decline off May's high, psychological support crossing at 3.50 is the next downside target. Closes above the 20-day moving average crossing at 3.76 3/4 are needed to temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 3.76 3/4. Second resistance is the reaction high crossing at 4.00 1/2. First support is Monday's low crossing at 3.58 1/2. Second support is psychological support crossing at 3.50.  

December wheat was lower overnight as it consolidated some of the rebound off Monday's low. The mid-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 5.24 are needed to confirm that a low has been posted. If December extends the decline off May's high, January's low crossing at 4.73 3/4 is the next downside target. First resistance is the 20-day moving average crossing at 5.24. Second resistance is the 50-day moving average crossing at 5.41 1/4. First support is Monday's low crossing at 4.96. Second support is January's low crossing at 4.73 3/4.        

December Kansas City Wheat closed up 18 1/4-cents at 5.24 1/2. 

December Kansas City wheat closed sharply higher on Thursday as it extended the rebound off Monday's low. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible. Closes above the 20-day moving average crossing at 5.36 would confirm that a short-term low has been posted. If December extends the decline off May's high, January's low crossing at 4.87 3/4. First resistance is the 20-day moving average crossing at 5.36. Second resistance is the 50-day moving average crossing at 5.62. First support is Monday's low crossing at 4.93 3/4. Second support is January's low crossing at 4.87 3/4. 

December Minneapolis wheat was higher overnight as it consolidates some of the decline off May's high. The high-range overnight trade sets the stage for a higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 5.78 3/4 are needed to confirm that a short-term low has been posted. If December renews the decline off May's, monthly support crossing at 5.15 1/4 is the next downside target. First resistance is the 20-day moving average crossing at 5.78 3/4. Second resistance is the reaction high crossing at 5.89. First support is Monday's low crossing at 5.43. Second support is monthly support crossing at 5.15 1/2.  

SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "

November soybeans was slightly higher due to short covering overnight as it consolidates some of the decline off May's high. The $2.07 ¼ decline off May's high has already largely if not completely factored in any retaliatory trade tariffs, which China might impose on soybeans. The current price of US soybeans is $1.65 below world prices. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off May's high, monthly support crossing at 8.25 is the next downside target. Closes above the 20-day moving average crossing at 9.11 1/4 would confirm that a low has been posted. First resistance is the 10-day moving average crossing at 8.79 1/2. Second resistance is the 20-day moving average crossing at 9.11 1/4. First support is psychological support crossing at 8.50. Second support is monthly support crossing at 8.25.

December soybean meal was higher overnight as it consolidates some of this week's decline. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off May's high, January's low crossing at 318.40 is the next downside target. Closes above the 20-day moving average crossing at 338.90 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 330.10. Second resistance is the 20-day moving average crossing at 338.90. First support is the overnight low crossing at 323.20. Second support is January's low crossing at 318.40. 

December soybean oil was steady to slightly lower overnight. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, June's low crossing at 28.50 is the next downside target. Closes above the 20-day moving average crossing at 29.99 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 29.49. Second resistance is the 20-day moving average crossing at 29.99. First support is June's low crossing at 28.50. Second support is the August-2015 crossing at 28.17.

LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock 

August hogs closed up $0.05 at $76.05. 

August hogs closed higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 76.63 would confirm that a short-term low has been posted. If August resumes the decline off June's high, April's low crossing at 72.45 is the next downside target. First resistance is June's high crossing at 80.00. Second resistance is April's high crossing at 80.55. First support is June's low crossing at 73.28. Second support is April's low crossing at 72.45.  

October cattle closed up $0.03 at 110.13. 

October cattle closed higher on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off May's low, the 75% retracement level of the February-May-decline crossing at 113.33 is the next upside target. Closes below the 20-day moving average crossing at 107.89 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the February-May-decline crossing at 111.23. Second resistance is the 75% retracement level of the February-May-decline crossing at 113.33. First support is the 20-day moving average crossing at 107.89. Second support is the reaction low crossing at 110.05. Second support is June's low crossing at 103.50. 

August Feeder cattle closed down $0.23 at $152.57. 

August Feeder cattle closed lower on Thursday as it consolidates some of the rally off May's low. The low-range close sets the stage for a steady to lower opening when Friday's session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends the rally off May's low, is February's high crossing at 155.98 is the next upside target. Closes below the 20-day moving average crossing at 148.06 would confirm that a short-term top has been posted. First resistance is the 87% retracement level of the February-April-decline crossing at 153.26. Second resistance is February's high crossing at 155.98. First support is the 10-day moving average crossing at 149.08. Second support is the 20-day moving average crossing at 148.06.    

FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food 

September coffee closed sharply lower on Thursday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this month's decline, monthly support crossing at 10.56 is the next downside target. Closes above the 20-day moving average crossing at 11.64 would confirm that a short-term low has been posted.  

September cocoa closed higher on Thursday. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral signaling that sideways trading is possible near-term. If September extends the rally off June's low, the 50-day moving average crossing at 26.00 is the next upside target. If September renews the decline off April's high, the 62% retracement level of the December-April-rally crossing at 22.64 is the next downside target.  

October sugar closed slightly higher on Thursday. The mid-range close set the stage for a steady opening on Friday. Stochastics and the RSI are oversold but remains neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off June's high, April's low crossing at 11.23 is the next downside target. Closes above the 20-day moving average crossing at 12.22 would confirm that a short-term low has been posted. 

October cotton closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off June's high, May's low crossing at 80.88 is the next downside target. Closes above the 20-day moving average crossing at 88.06 would confirm that a low has been posted.