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 STOCK INDEXES: The September NASDAQ 100 was higher overnight as it extends the trading range of the past seven-days.Overnight strength sets the stage for a steady to higher opening when the day 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, upside targets will be hard to project. Closes below the 20-day moving average crossing at 15,367.84 would signal that a short-term top might be in or is near. 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 15,367.84. Second support is the 50-day moving average crossing at 15,091.91.  

The September S&P 500 was higher overnight as it consolidates some of this week's decline. Overnight strength sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4485.34 would signal that a short-term top has been posted. If September resumes this year's rally into uncharted territory, upside targets will be hard to project. First resistance is Tuesday's high crossing at 4548.00. Second resistance is unknown. First support is the 20-day moving average crossing at 4485.34. Second support is the 50-day moving average crossing at 4419.35. 

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

INTEREST RATES: September T-bonds were lower overnight as it consolidates some of Thursday's rally while extending the July-September trading range. Overnight weakness 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 last-Tuesday's crossing at 165-12 would open the door for a test of the August 19^th high crossing at 166-06. Closes below Tuesday's low crossing at 163-06 would open the door for a possible test of August's low crossing at 162-17. First resistance is the August 19^th high crossing at 166-06. Second resistance is July's high crossing at 167-04. First support is the August's low crossing at 162-17. Second support is the July 13^th low crossing at 161-06.

September T-notes were lower overnight as it consolidates some of Thursday's rally while at the same time extending the July-September trading range. Overnight weakness sets the stage for a steady to lower opening with 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 last-Friday's high crossing at 134.155 would open the door for a possible test of the August 17^th high crossing at 134.195. Closes below August's low crossing at 133.095 would renew the decline off August's high and open the door for a possible test of the July 14^th low crossing at 132.300. First resistance is the August 17^th high crossing at 134.195. Second resistance is the 75% retracement level of the 2020-2021-decline crossing at 135.121. 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 ""

ENERGIES:October crude oil was steady to higher overnight.Overnight strength sets the stage for a steady to higher opening when the day 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 July 30^th high is the next upside target. Closes below the 20-day moving average crossing at $67.54 would signal that a short-term top has been posted. 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 $67.54. Second support is August's low crossing at $61.74.

October heating oil was steady to higher overnight. The high-range overnight trade sets the stage for a steady to slightly lower opening when the day 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 July 30^th high crossing at $2.2048 is the next upside target. Closes below the 20-day moving average crossing at $2.0849 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at $2.1836. Second resistance is the July 30^th high crossing at $2.2048. First support is the 20-day moving average crossing at 2.0849. Second support is August's low crossing at $1.8971.

October unleaded gas was steady to higher overnight as it extends the trading range of the past two-weeks. Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October resumes 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. Closes below the 20-day moving average crossing at 2.0852 would signal that a short-term top has been posted. 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 2.0852. Second support is August's low crossing at 1.8726. 

October Henry natural gas was steady to slightly higher overnight as it extends this year's rally. Overnight strength sets the stage for a steady to higher opening when the day 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 4.293 would signal that a short-term top has been posted. First resistance resistance is Thursday'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 4.658. Second support is the 20-day moving average crossing at 4.293.   

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

CURRENCIES:The September Dollar was steady to slightly lower overnight as it consolidates some of the rally off last-Friday's low. 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 $92.73 is the next upside target. If September renews the decline off August's high, the July 30^th low crossing at $91.78 is the next downside target. First resistance is the 20-day moving average crossing at $92.73. Second resistance is the August 27^th high crossing at $93.20. First support is last-Friday's low crossing at $91.80. Second support is the July 30th low crossing at $91.78.

The September Euro was steady to slightly lower overnight as it consolidates some of the decline off last-Friday's high.The low-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. Closes below the 20-day moving average crossing at $117.91 would signal that a short-term top has been posted. If September renews the rally off August's low, the June 25^th high crossing at $119.95 is the next upside target. First resistance is the July 30^th 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 $117.91. Second support is August's low crossing at $116.69.

The September British Pound was higher overnight as it extends the rally off Wednesday's low. Overnight strength sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI have turned 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 Wednesday's low crossing at 1.3726 would temper the near-term friendly outlook. 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 Wednesday's low crossing at 1.3726. Second support is the August 27^th low crossing at 1.3680. Third support is August's low crossing at 1.3602.  

The September Swiss Franc was steady to slightly lower overnight. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices possible near-term.  Closes above last-Friday's high crossing at 1.0972 would signal that a short-term low has been posted. If September extends this week's decline, July's low crossing at 1.0801 is the next downside target. First resistance is the August 17^th high crossing at 1.0997. Second resistance is August's high crossing at 1.1100. First support is August's low crossing at 1.0828. Second support is July low crossing at 1.0801.  

The September Canadian Dollar was higher overnight as it consolidates some of this week's decline. Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI remain 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 last-Friday's high crossing at 80.04. Second resistance is the July 30^th high crossing at $80.50. 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 was lower overnight as it extends the July-September trading range. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. From a broad perspective September needed to close above August's high crossing at 0.092000 or below August's low crossing at 0.090270 to confirm a breakout of the aforementioned trading range and point the direction of the next trending move. First resistance is the August 16^th high crossing at 0.091665. Second resistance is August's high crossing at 0.092000. First support is the August 11^th low crossing at 0.090270. Second support is July's low crossing at 0.089635.

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

PRECIOUS METALS:Decembergold was lower overnight. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes 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 July's high crossing at $1839.00. First support is the August 19^th low crossing at $1774.60. Second support is August's low crossing at $1677.90.

September silver was steady to slightly higher overnight as it remains in an uptrend off August's lows. Overnight strength sets the stage for a steady to higher opening when the day session begins trading later this morning. 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 average crossing at $24.780 would open the door for a possible test of August's high crossing at $26.090. 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 20^th low crossing at $22.835. 

September copper was higher overnight and is poised to breakout of a bull flag formations off the August 30^th high. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off August's low, the August 13^th high crossing at 4.4310 is the next upside target. Closes below Wednesday's low crossing at 4.2080 would signal that a short-term top has been posted. First resistance is the August 13^th high crossing at 4.4310. Second resistance is the July 27^th high crossing at 4.6275. First support is Wednesday's low crossing at 4.2080. Second support is August's low crossing at 3.9615.

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

December corn was steady to slightly higher in quiet pre-report trading overnight as it awaits today's WASDE report for both updated USDA acreage and yield data. Overnight strength sets the stage for a steady to higher opening when the day sessions 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 $5.46 3/4 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $5.24 1/2. Second resistance is the 50-day moving average crossing at $5.46 3/4. First support is May's low crossing at $5.00 1/4. Second support is the March 31^st gap crossing at $4.77 1/2.  

December wheat was steady to fractionally higher overnight. Overnight strength sets the stage for a steady to a fractionally higher opening when the day session begins trading. Stochastics and the RSI are oversold and remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, the July 26^th low crossing at $6.75 is the next downside target. Closes above the 20-day moving average crossing at $7.30 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $7.08 1/2. Second resistance is the 20-day moving average crossing at $7.30. First support is the 50% retracement level of the July-August-rally crossing at $6.82 1/2. Second support is the July 26^th low crossing at $6.75.

December Kansas City wheat was steady to fractionally higher overnight as it consolidates some of the decline off August's high. Overnight strength sets the stage for a steady to fractionally 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 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 confirm that a short-term low has been posted. First resistance is the August 27^th high crossing at $7.35 1/2. Second resistance is August's high crossing at $7.69. 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 1/2.  

December Minneapolis wheat was lower overnight and is poised to test to lower boundary of the July-September trading range crossing at $8.57. Overnight weakness 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. Closes above the 20-day moving average crossing at $9.05 would signal that a short-term low has been posted. First resistance is August's high crossing at $9.37 1/2. Second resistance is the September-2012 high on the monthly continuation chart crossing at $9.83 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 were higher overnight as it consolidates some of this week's losses. Overnight strength set 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 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 $13.10 3/4 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $13.10 3/4. Second resistance is the 50-day moving average crossing at $13.36 1/2. First support is the June 25^th low crossing at $12.59 3/4. Second support is June's low crossing at $12.40 1/2.

December soybean meal was higher overnight as it consolidates some of the decline off May's high. Overnight strength 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 August's high, the 75% retracement level of the 2020-2021-rally crossing at $324.40 is the next downside target. Closes above the 20-day moving average crossing at $349.50 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $349.50. Second resistance is the 50-day moving average crossing at $357.40. First support is Thursday's low crossing at $335.40. Second support is the 75% retracement level of the 2020-2021-rally crossing at $324.40.

December soybean oil was slightly lower overnight as it extends the decline off July's high. Overnight weakness 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 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 59.44 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 59.44. Second resistance is the 50-day moving average crossing at 61.11. First support is the overnight low crossing at 55.90. Second support is June's low crossing at 51.98.     

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.