Commodities Update - 23 Jul 16

BDI pull back to 718 (22 Jul) from 745 (15 Jul)
Harpex continues to break recent low at 347.56 (16 Jul) from 348.80 (09 Jul)

Summary
Most commodities closed lower this week.

COT
Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend 

• Wheat (1)

Neutral

• None

Up Trend 

• Palladium
• Natural Gas

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend 

• Coffee
• Silver
• Lumber
• Cotton

Neutral 

• Soybean Meal

Down Trend 

• None

Note

(1) COT Index >= 90, Buying interest at extreme
(2) COT Index <= 10, Selling interest at extreme
(3) COT Index >= 70, rising COT Index, monitor for trend reversal from DT to UT
Down Trend and Up Trend is based on 50 Simple Moving Average