KEY EVENTS TO WATCH FOR:

Friday, September 10, 2021 

8:30 AM ET. August PPI

                       PPI, M/M% (previous +1%)

                       Ex-Food & Energy PPI, M/M% (previous +1%)

                       Personal Consumption (previous +1%)

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

                       Corn (Metric Tons) (previous 858.7K)

                       Soybeans (Metric Tons) (previous 2200.7K)

                       Wheat (Metric Tons) (previous 295.3K)

10:00 AM ET. July Monthly Wholesale Trade

                       Inventories, M/M% (previous +1.1%)

12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

                       Cotton, End Stocks (Bales)

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

The Dow closed lower for the fourth day in a row on Thursday as investors struggle to find the balance between a still hot jobs market and an economy that's upward momentum  has slowed due to rising COVID-19 infections. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below August's low crossing at 34,690.25 would confirm that a short-term top has been posted. If the Dow resumes the rally off August's low, August's high crossing at 35,631.19 is the next upside target. First resistance is last-Monday's high crossing at 35,510.71. Second resistance is August's high crossing at 35,631.19. First support is August's low crossing at 33,690.25. Second support is July's low crossing at 33,741.76.  

The September NASDAQ 100 posted an inside day with a lower close on Thursday as it extends the trading range of the past six-days.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 September extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 15,342.11 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 15,708.75. Second resistance is unknown. First support is the 20-day moving average crossing at 15,342.11. Second support is the 50-day moving average crossing at 15,071.06.

The September S&P 500 closed lower 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4482.66 would signal that a short-term top has been posted. If September extends this year's rally into uncharted territory, upside targets will be hard to project. First resistance is last-Friday's high crossing at 4549.50. Second resistance is unknown. First support is the 20-day moving average crossing at 4482.66. Second support is the 50-day moving average crossing at 4414.96.  

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

September T-bonds closed up 1-00/32's at 165-05. 

September T-bonds closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off August's low, August's high crossing at 167-00 is the next upside target. Closes below the August 26^th low crossing at 163-11 would open the door for a possible test of August's low crossing at 162-17. First resistance is the August 20^th high crossing at 166-06. Second resistance is the 75% retracement level of the 2020-2021-decline crossing at 167-00. First support is Tuesday's low crossing at 163-06. Second support is August's low crossing at 162-17.  

September T-notes closed up 100-pts at 134.055.

September T-notes closed higher on Thursday as it consolidates some of the decline off last-Friday's high. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling sideways to higher prices are possible near-term. If September renews the rally off the August 26^th low, the August 17^th high crossing at 134.195 is the next upside target. If September resumes the decline off August's high, the July 14^th low crossing at 132.300 is the next downside target. First resistance is the August 17^th high crossing at 134.195. Second resistance is August's high crossing at 135.140. First support is August's low crossing at 133.095. Second support is the July 14^th low crossing at 132.300.  

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

October crude oil closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $67.51 would confirm that a short-term top has been posted. If October resumes the rally off August's low, the July 30^th high crossing at $73.52 is the next upside target. First resistance is last-Thursday's high crossing at $70.61. Second resistance is the July 30^th high crossing at $73.52. First support is the 20-day moving average crossing at $67.51. Second support is August's low crossing at $61.74.

October heating oil closed lower on Thursday as it extends the decline off last-Friday's high. The low-range close sets the stage for a steady to lower opening when Friday's night trading session begins. 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 $208.29 would signal that a short-term top has been posted. If October resumes the rally off August's low, the July 30^th high  crossing at $220.48 is the next upside target. First resistance is last-Friday's high crossing at $218.48. Second resistance is the the July 30^th high  crossing at $220.48. First support is the 20-day moving average crossing at $208.29. Second support is August's low crossing at $189.71.      

October unleaded gas closed lower on Thursday while extending the trading range of the past two-weeks. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $2.0848 would signal that a short-term top has been posted. If October renews the rally off August's low, the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 2.8181 is the next upside target. First resistance is last-Monday's high crossing at $2.2117. Second resistance is the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 2.8181. First support is the 20-day moving average crossing at $2.0848. Second support is August's low crossing at $1.8726.    

October Henry natural gas closed higher on Thursday as it extends this year's rally to a new high. The high-range close sets the stage for a steady to higher 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 August's low, the June-2014 high crossing at 5.236 is the next upside target. Closes below the 20-day moving average crossing at 4.238 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is today's high crossing at 5.047. Second resistance is the June-2014 high crossing at 5.236. First support is the 10-day moving average crossing at 4.574. Second support is the 20-day moving average crossing at 4.238.  

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

The September Dollar closed lower on Thursday following a two-day rally off last-week's low. 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 neutral to bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 92.73 would signal that a short-term low has been posted. If September renews the decline off August's high, the June 23^rd low crossing at 91.51 is the next downside target. First resistance is the 20-day moving average crossing at $92.73. Second resistance is the August 26^th high crossing at 93.20. First support is July's low crossing at 91.78. Second support is the June 23^rd low crossing at 91.51. 

The September Euro closed higher on Thursday as it consolidated some of this week's decline. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 117.86 would confirm that a short-term top has been posted. If September extends the rally off August's low, the June 25^th high crossing at 119.95 is the next upside target. First resistance is July's high crossing at 119.19. Second resistance is the June 25^th high crossing at 119.95. First support is the 20-day moving average crossing at 117.86. Second support is August's low crossing at 116.69. 

The September British Pound closed higher on Thursday following a two-day correction off last-Friday's high. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off August's low, the July 30^th high crossing at 1.3985 is the next upside target. Closes below the 20-day moving average crossing at 1.3769 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 1.3893. Second resistance is the July 30^th high crossing at 1.3985. First support is the August 27^th low crossing at 1.3680. Second support is the August low crossing at 1.3602.  

The September Swiss Franc closed higher on Thursday as it extends the trading range of the past four-weeks.The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If September resumes the decline off August's high, July's low crossing at 1.0801 is the next downside target. Closes above the August 17^th high crossing at 1.0997 is needed to renew the rally off August's low. First resistance is the August 17^th high crossing at 1.0957. Second resistance is August's high crossing at 1.1100. First support is August's low crossing at 1.0828. Second support is July's low crossing at 1.0801.

The September Canadian Dollar posted an inside day with a higher close on Thursday as it consolidated some of the decline off last-Friday's high. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the August 27^th low crossing at 78.69 would signal that a short-term top has been posted. If September renews the rally off August's low, the July 30^th high crossing at 80.50 is the next upside target. First resistance is theJuly 30^th high crossing at 80.50. Second resistance is the July's high crossing at 81.28. First support is the August 27^th low crossing at 78.69. Second support is August's low crossing at 77.23.

The September Japanese Yen closed higher on Thursday as it extends the July-September trading range. The high-range close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below August's low crossing at 0.090270 or above the August high crossing at 0.092000 are needed to confirm a breakout of the aforementioned trading range. First resistance is August's high crossing at 0.092000. Second resistance is May's high crossing at 0.092295. First support is August's low crossing at 0.090270. Second support is July's low crossing at 0.089605.  

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

December gold closed higher on Thursday as it consolidated some of the decline off last-Friday's high. The mid-range close sets the stage for a steady to higher opening when Friday's night 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, the August 19^th low crossing at $1774.60 is the next downside target. If December renews the rally off August's low, the 75% retracement level of the June-August decline crossing at $1861.30 is the next upside target. First resistance is last-Friday's high crossing at $1836.90. Second resistance is the 75% retracement level of the June-August decline crossing at $1861.30. First support is the August 19^th low crossing at $1774.60. Second support is August's low crossing at $1677.90.

September silver closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 23.813 would signal that a short-term top has been posted. Closes above the 50-day moving acreage crossing at 24.780 would open the door for additional short-term gains. First resistance is the 50-day moving average crossing at 24.780. Second resistance is August's high crossing at 26.090. First support is the 20-day moving average crossing at 23.813. Second support is the August 27^th low crossing at 23.305. Third support is the August 20^th low crossing at 22.835.   

September copper posted an inside day with a higher close on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off the August 30^th high crossing at 439.80, August's low crossing at 396.15 is the next downside target. Closes above the August 13^th high crossing at 443.10 would open the door for a possible test of July's high crossing at 462.75. First resistance is the August 13^th high crossing at 443.10. Second resistance is July's high crossing at 462.75. First support is August's low crossing at 396.15. Second support is the 38% retracement level of the 2020-2021-rally crossing at 381.46.

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

December Corn closed down $0.00 1/4-cent at $5.10. 

December corn closed fractionally lower on Thursday as it extends the decline off August's high. The high-range close sets the stage for a steady to higher opening when Friday's night 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 August's high, May's low crossing at $5.00 1/4 is the next downside target. Closes above the 50-day moving average crossing at $5.48 1/2 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $5.28 1/2. Second resistance is the 50-day moving average crossing at $5.48 1/2. First support is May's low crossing at $5.00 1/4. Second support is the April 1^st gap crossing at $4.77 1/2.   

December wheat closed down $0.17 1/4-cents at $6.92 1/4.  

December wheat closed sharply lower on Thursday and below the 50-day moving average crossing at $7.08 1/2 as it extends the decline off August's high while opening the door for a possible test of the July 26^th low crossing at $6.75. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, the July 26^th low crossing at $6.75 is the next downside target. Closes above the 20-day moving average crossing at $7.33 1/2 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at $7.33 1/2. Second resistance is August's high crossing at $7.74 3/4. First support is today's low crossing at $6.91 1/2. Second support is the July 26^th low crossing at $6.75.

December Kansas City Wheat closed down $0.22 at $6.82 3/4.

December Kansas City wheat closed sharply lower on Thursday and below the 50-day moving average crossing at $6.87 1/4. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, the 50% retracement level of the July-August-rally crossing at $6.79 1/2 is the next downside target. Closes above Tuesday's high crossing at $7.29 3/4 would signal that a short-term low has been posted. First resistance is August 27^thhigh crossing at $7.35 1/2. Second resistance is August's high crossing at $7.56 1/4. First support is the 50% retracement level of the July-August-rally crossing at $6.79 1/2.Second support is the 62% retracement level of the July-August-rally crossing at $6.58 1/4. 

December Minneapolis wheat closed down $0.22-cents at $8.72 1/2. 

December Minneapolis wheat closed sharply lower on Thursday and below the 50-day moving average crossing at $8.85 1/2 confirms that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices is possible near-term. If December extends the decline off August's high, the 25% retracement level of the 2020-2021-rally crossing at $8.44 3/4 is the next downside target. Closes above the 20-day moving average crossing at $9.07 1/2 would signal that a short-term top has been posted. First resistance is the August 30^th high crossing at $9.27. Second resistance is August's high crossing at $9.37 1/2. First support is the July 26^th low crossing at $8.57. Second support is the 25% retracement level of the 2020-2021-rally crossing at $8.44 3/4. 

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

November soybeans closed down $0.09-cents at $12.70 1/2.

November soybeans closed lower on Thursday as it extends the decline off July's high.The mid-range close sets the stage for a steady to lower opening when Friday's night 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 August's high, the June 25^th low crossing at $12.59 3/4 is the next downside target. Closes above the 20-day moving average crossing at $13.14 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $13.14. Second resistance is the 50-day moving average crossing at $13.39. First support is today's low crossing at $12.65. Second support is the June 25^th low crossing at $12.59 3/4.

December soybean meal closed up $0.30 at $338.10. 

December soybean meal closed slightly higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night 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 July's high, the 75% retracement level of the 2020-2021 rally crossing at $324.00 is the next downside target. Closes above the 20-day moving average crossing at $350.40 would signal that a low has been posted. First resistance is the 10-day moving average crossing at $343.90. Second resistance is the 20-day moving average crossing at $350.40. First support is today's low crossing at $335.40. Second support is the 75% retracement level of the 2020-2021 rally crossing at $324.00.      

December soybean oil closed down 140-pts. at 56.06. 

December soybean oil closed lower on Thursday as it extends the decline off July's high. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off July's high, August's low crossing at 56.42 is the next downside target. Closes above the 20-day moving average crossing at 59.72 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 59.72. Second resistance is the 50-day moving average crossing at 61.24. First support is today's low crossing at 56.11. Second support is June's low crossing at $53.10. 

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

October hogs closed down $1.55 at $85.82. 

October hogs closed lower on Thursday as it extends the decline off the August 30^th high, August's low crossing at $83.33 is the next downside target. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off the late-August high, August's low crossing at $83.33 is the next downside target. Closes above the 10-day moving average crossing at $88.84 would signal that a short-term low has been posted. First resistance is the August 30^th high crossing at $91.42. Second resistance is July's high crossing at $94.05. First support is today's low crossing at $85.25. Second support is August's low crossing at $83.32. 

October cattle closed up $0.58 at $123.15. 

October cattle posted an inside day with a higher close on Thursday as it consolidated some of the decline off August's high. The mid-range close sets the stage for a steady to higher 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 August's high, the 38% retracement level of the 2020-2021-rally crossing at $120.96 is the next downside target. Closes above the 20-day moving average crossing at $127.85 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $126.29. Second resistance is the 20-day moving average crossing at $127.85. First support is Wednesday's low crossing at $123.03. Second support is the 38% retracement level of the 2020-2021-rally crossing at $120.96. 

October Feeder cattle closed up $0.10 at $159.38. 

October feeder cattle closed slightly higher on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday's 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 October extends the decline off August's high, July's low crossing at $157.15 is the next downside target. Closes above the 20-day moving average crossing at $165.87 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at $164.39. Second resistance is the 20-day moving average crossing at $165.87. First support is the 50% retracement level of the May-August-rally crossing at $159.16. Second support is July's low crossing at $157.15.  

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

December coffee closed lower on Thursday as it extends the decline off August's high. The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, the 50-day moving average crossing at $180.07 is the next downside target. If December resumes the rally off August's low, July's high crossing at $217.85 is the next upside target. 

December cocoa closed lower on Thursday as it consolidates some of the rally off last-Wednesday's low. The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off July's low, the November 2020 high on the weekly continuation chart crossing at 28.21 is the next upside target. Closes below the 20-day moving average crossing at 26.13 would signal that a short-term top has been posted.                           

October sugar closed lower on Thursday as it extends the decline off August's high. 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 aforementioned decline, the 50-day moving average crossing at 18.67 is the next downside target. If October renews the rally off July's low, the February-2017 high on the monthly continuation chart crossing at 21.49 is the next upside target.        

December cotton closed lower on Thursday. The low-range close sets the stage for a steady to slightly lower opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the rally off May's low, weekly resistance on the continuation chart crossing at 97.35 is the next upside target. If December renews last-week's decline, the 50-day moving average crossing at 90.87 is the next downside target.