MRCI's Scenario Summary

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MRCI's Scenario^SM Summary

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Scenario^SM Summary May 31, 2017

Historical Data Scenario Data Current Market Data

Mkt
Cond
Month Prev
Close Month
High Month
Low Month
Close Pct
Range Total
Years Cond
Years Action
Years
Pct Scenario
Objective Average
Objective Last
Price

#DJ Higher May 20941.00 21112.00 20553.00 21009.00 82% 45 25 21 84% 21112.00 22100.75 21009.00

#OEX Higher May 1054.85 1066.60 1039.05 1062.90 87% 41 24 22 92% 1066.60 1110.78 1062.90

#NDX Higher May 5583.50 5813.30 5570.30 5788.80 90% 31 21 20 95% 5813.30 6102.34 5788.80

SPU7 Higher May 2378.00 2415.00 2350.00 2408.40 90% 35 23 20 87% 2415.00 2508.69 2408.40

USU7 Higher May 151~250 153~280 149~000 153~260 99% 39 18 18 100% 153~280 160~116 153~260

TYU7 Higher May 125~125 126~130 124~120 126~095 95% 34 15 14 93% 126~130 130~015 126~095

EDZ7 Higher May 98.515 98.655 98.480 98.605 71% 35 17 16 94% 98.655 99.120 98.605

JYU7 Higher May 90.32 91.18 87.91 90.90 91% 40 16 15 94% 91.18 94.63 90.90

SPU7 Higher May 2378.00 2415.00 2350.00 2408.40 90% 35 23 20 87% 2415.00 2508.69 2408.40

RBV7 Higher May 143.51 153.53 132.63 145.55 62% 32 17 15 88% 153.53 164.03 145.55

RBX7 Higher May 141.51 151.40 131.17 143.33 60% 31 14 12 86% 151.40 161.36 143.33

NGU7 Lower May 3.364 3.506 3.086 3.095 2% 27 15 13 87% 3.086 2.617 3.095

NGV7 Lower May 3.379 3.520 3.112 3.120 2% 27 13 12 92% 3.112 2.661 3.120

SQ7 Lower May 958.25 988.75 913.25 918.25 7% 45 23 23 100% 913.25 838.63 918.25

SX7 Lower May 953.25 980.00 915.50 918.25 4% 45 23 21 91% 915.50 849.89 918.25

SF8 Lower May 960.25 987.00 923.50 926.25 4% 45 22 21 95% 923.50 859.24 926.25

BOQ7 Lower May 31.81 33.54 31.26 31.47 9% 45 25 22 88% 31.26 28.26 31.47

BOU7 Lower May 31.93 33.64 31.40 31.60 9% 45 23 21 91% 31.40 28.56 31.60

BOV7 Lower May 31.98 33.70 31.48 31.70 10% 45 23 22 96% 31.48 28.77 31.70

BOZ7 Lower May 32.18 33.90 31.66 31.91 11% 45 23 22 96% 31.66 29.06 31.91

SMQ7 Lower May 317.00 325.80 297.90 299.40 5% 45 22 21 95% 297.90 275.92 299.40

SMU7 Lower May 317.30 325.60 299.40 300.60 5% 45 22 21 95% 299.40 277.71 300.60

SMV7 Lower May 316.10 323.70 300.50 301.40 4% 45 21 18 86% 300.50 278.39 301.40

SMZ7 Lower May 317.00 325.00 302.30 303.00 3% 45 20 19 95% 302.30 284.13 303.00

CZ7 Higher May 385.00 395.75 382.00 391.00 65% 45 21 18 86% 395.75 435.73 391.00

WU7 Lower May 445.75 474.00 435.00 443.75 22% 45 28 24 86% 435.00 392.31 443.75

WZ7 Lower May 468.25 494.75 456.50 466.50 26% 45 27 23 85% 456.50 413.53 466.50

KWU7 Lower May 452.75 488.50 438.00 450.00 24% 41 22 21 95% 438.00 398.72 450.00

KWZ7 Lower May 477.00 509.00 463.00 475.25 27% 41 22 21 95% 463.00 423.85 475.25

HEV7 Higher May 66.650 68.730 66.130 68.430 88% 45 22 20 91% 68.730 74.375 68.430

KCU7 Lower May 135.75 140.00 129.60 131.70 20% 43 25 21 84% 129.60 112.70 131.70

SBV7 Lower May 16.32 16.77 15.05 15.13 5% 45 26 22 85% 15.05 12.83 15.13

CCU7 Higher May 1850 2097 1782 2056 87% 45 18 16 89% 2097 2335 2056

CCZ7 Higher May 1871 2114 1806 2071 86% 45 19 17 89% 2114 2373 2071

LBU7 Lower May 387.9 394.9 336.3 340.8 8% 44 20 18 90% 336.3 299.6 340.8

LBX7 Lower May 382.1 387.7 328.1 331.1 5% 44 20 19 95% 328.1 299.2 331.1

CTZ7 Lower May 74.62 75.15 72.15 72.79 21% 44 24 21 88% 72.15 67.10 72.79

DJIA Index: The #DJ(Mkt) ended Higher(Cond) for May(Month). Compared to April's 20941.00(Prev Close), the market ended May at 21009.00(Month Close), that being 82%(Pct Range) off of 20553.00(Month Low) to 21112.00(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the DJIA Index also closed higher in May than April in 25(Cond Years) of those years. Of those 25, the #DJ went on to exceed the May high within the next 2 months in 21 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the the #DJ should exceed 21112.00(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 22100.75(Average Objective).
S & P 100(OEX): The #OEX(Mkt) ended Higher(Cond) for May(Month). Compared to April's 1054.85(Prev Close), the market ended May at 1062.90(Month Close), that being 87%(Pct Range) off of 1039.05(Month Low) to 1066.60(Month High).

In comparing the April/May closes for each of the last 41 years(Total Years), Scenario found that the S & P 100(OEX) also closed higher in May than April in 24(Cond Years) of those years. Of those 24, the #OEX went on to exceed the May high within the next 2 months in 22 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the the #OEX should exceed 1066.60(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 1110.78(Average Objective).
NASDAQ 100 Index: The #NDX(Mkt) ended Higher(Cond) for May(Month). Compared to April's 5583.50(Prev Close), the market ended May at 5788.80(Month Close), that being 90%(Pct Range) off of 5570.30(Month Low) to 5813.30(Month High).

In comparing the April/May closes for each of the last 31 years(Total Years), Scenario found that the NASDAQ 100 Index also closed higher in May than April in 21(Cond Years) of those years. Of those 21, the #NDX went on to exceed the May high within the next 2 months in 20 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the the #NDX should exceed 5813.30(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 6102.34(Average Objective).
September S & P 500(CME): The SPU7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 2378.00(Prev Close), the market ended May at 2408.40(Month Close), that being 90%(Pct Range) off of 2350.00(Month Low) to 2415.00(Month High).

In comparing the April/May closes for each of the last 35 years(Total Years), Scenario found that the September S & P 500(CME) also closed higher in May than April in 23(Cond Years) of those years. Of those 23, SPU went on to exceed the May high within the next 2 months in 20 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the SPU should exceed 2415.00(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 2508.69(Average Objective).
September 30-Year T-Bonds(CBOT): The USU7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 151~250(Prev Close), the market ended May at 153~260(Month Close), that being 99%(Pct Range) off of 149~000(Month Low) to 153~280(Month High).

In comparing the April/May closes for each of the last 39 years(Total Years), Scenario found that the September 30-Year T-Bonds(CBOT) also closed higher in May than April in 18(Cond Years) of those years. Of those 18, USU went on to exceed the May high within the next 2 months in 18 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the USU should exceed 153~280(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 160~116(Average Objective).
September 10-Year T-Notes(CBOT): The TYU7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 125~125(Prev Close), the market ended May at 126~095(Month Close), that being 95%(Pct Range) off of 124~120(Month Low) to 126~130(Month High).

In comparing the April/May closes for each of the last 34 years(Total Years), Scenario found that the September 10-Year T-Notes(CBOT) also closed higher in May than April in 15(Cond Years) of those years. Of those 15, TYU went on to exceed the May high within the next 2 months in 14 years(Action Years) or 93%(Pct) of the time.

Therefore, the historical odds are high that the TYU should exceed 126~130(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 130~015(Average Objective).
December Eurodollars(CME): The EDZ7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 98.515(Prev Close), the market ended May at 98.605(Month Close), that being 71%(Pct Range) off of 98.480(Month Low) to 98.655(Month High).

In comparing the April/May closes for each of the last 35 years(Total Years), Scenario found that the December Eurodollars(CME) also closed higher in May than April in 17(Cond Years) of those years. Of those 17, EDZ went on to exceed the May high within the next 2 months in 16 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the EDZ should exceed 98.655(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 99.120(Average Objective).
September Japanese Yen(CME): The JYU7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 90.32(Prev Close), the market ended May at 90.90(Month Close), that being 91%(Pct Range) off of 87.91(Month Low) to 91.18(Month High).

In comparing the April/May closes for each of the last 40 years(Total Years), Scenario found that the September Japanese Yen(CME) also closed higher in May than April in 16(Cond Years) of those years. Of those 16, JYU went on to exceed the May high within the next 2 months in 15 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the JYU should exceed 91.18(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 94.63(Average Objective).
September S & P 500(CME): The SPU7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 2378.00(Prev Close), the market ended May at 2408.40(Month Close), that being 90%(Pct Range) off of 2350.00(Month Low) to 2415.00(Month High).

In comparing the April/May closes for each of the last 35 years(Total Years), Scenario found that the September S & P 500(CME) also closed higher in May than April in 23(Cond Years) of those years. Of those 23, SPU went on to exceed the May high within the next 2 months in 20 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the SPU should exceed 2415.00(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 2508.69(Average Objective).
October RBOB Gasoline(NYM): The RBV7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 143.51(Prev Close), the market ended May at 145.55(Month Close), that being 62%(Pct Range) off of 132.63(Month Low) to 153.53(Month High).

In comparing the April/May closes for each of the last 32 years(Total Years), Scenario found that the October RBOB Gasoline(NYM) also closed higher in May than April in 17(Cond Years) of those years. Of those 17, RBV went on to exceed the May high within the next 2 months in 15 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the RBV should exceed 153.53(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 164.03(Average Objective).
November RBOB Gasoline(NYM): The RBX7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 141.51(Prev Close), the market ended May at 143.33(Month Close), that being 60%(Pct Range) off of 131.17(Month Low) to 151.40(Month High).

In comparing the April/May closes for each of the last 31 years(Total Years), Scenario found that the November RBOB Gasoline(NYM) also closed higher in May than April in 14(Cond Years) of those years. Of those 14, RBX went on to exceed the May high within the next 2 months in 12 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the RBX should exceed 151.40(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 161.36(Average Objective).
September Natural Gas(NYM): The NGU7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 3.364(Prev Close), the market ended May at 3.095(Month Close), that being 2%(Pct Range) off of 3.086(Month Low) to 3.506(Month High).

In comparing the April/May closes for each of the last 27 years(Total Years), Scenario found that the September Natural Gas(NYM) also closed lower in May than April in 15(Cond Years) of those years. Of those 15, NGU went on to penetrate the May low within the next 2 months in 13 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the NGU should penetrate 3.086(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 2.617(Average Objective).
October Natural Gas(NYM): The NGV7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 3.379(Prev Close), the market ended May at 3.120(Month Close), that being 2%(Pct Range) off of 3.112(Month Low) to 3.520(Month High).

In comparing the April/May closes for each of the last 27 years(Total Years), Scenario found that the October Natural Gas(NYM) also closed lower in May than April in 13(Cond Years) of those years. Of those 13, NGV went on to penetrate the May low within the next 2 months in 12 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the NGV should penetrate 3.112(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 2.661(Average Objective).
August Soybeans(CBOT): The SQ7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 958.25(Prev Close), the market ended May at 918.25(Month Close), that being 7%(Pct Range) off of 913.25(Month Low) to 988.75(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the August Soybeans(CBOT) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, SQ went on to penetrate the May low within the next 2 months in 23 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the SQ should penetrate 913.25(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 838.63(Average Objective).
November Soybeans(CBOT): The SX7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 953.25(Prev Close), the market ended May at 918.25(Month Close), that being 4%(Pct Range) off of 915.50(Month Low) to 980.00(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the November Soybeans(CBOT) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, SX went on to penetrate the May low within the next 2 months in 21 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the SX should penetrate 915.50(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 849.89(Average Objective).
January Soybeans(CBOT): The SF8(Mkt) ended Lower(Cond) for May(Month). Compared to April's 960.25(Prev Close), the market ended May at 926.25(Month Close), that being 4%(Pct Range) off of 923.50(Month Low) to 987.00(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the January Soybeans(CBOT) also closed lower in May than April in 22(Cond Years) of those years. Of those 22, SF went on to penetrate the May low within the next 2 months in 21 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the SF should penetrate 923.50(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 859.24(Average Objective).
August Soybean Oil(CBOT): The BOQ7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 31.81(Prev Close), the market ended May at 31.47(Month Close), that being 9%(Pct Range) off of 31.26(Month Low) to 33.54(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the August Soybean Oil(CBOT) also closed lower in May than April in 25(Cond Years) of those years. Of those 25, BOQ went on to penetrate the May low within the next 2 months in 22 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the BOQ should penetrate 31.26(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 28.26(Average Objective).
September Soybean Oil(CBOT): The BOU7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 31.93(Prev Close), the market ended May at 31.60(Month Close), that being 9%(Pct Range) off of 31.40(Month Low) to 33.64(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the September Soybean Oil(CBOT) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, BOU went on to penetrate the May low within the next 2 months in 21 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the BOU should penetrate 31.40(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 28.56(Average Objective).
October Soybean Oil(CBOT): The BOV7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 31.98(Prev Close), the market ended May at 31.70(Month Close), that being 10%(Pct Range) off of 31.48(Month Low) to 33.70(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the October Soybean Oil(CBOT) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, BOV went on to penetrate the May low within the next 2 months in 22 years(Action Years) or 96%(Pct) of the time.

Therefore, the historical odds are high that the BOV should penetrate 31.48(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 28.77(Average Objective).
December Soybean Oil(CBOT): The BOZ7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 32.18(Prev Close), the market ended May at 31.91(Month Close), that being 11%(Pct Range) off of 31.66(Month Low) to 33.90(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the December Soybean Oil(CBOT) also closed lower in May than April in 23(Cond Years) of those years. Of those 23, BOZ went on to penetrate the May low within the next 2 months in 22 years(Action Years) or 96%(Pct) of the time.

Therefore, the historical odds are high that the BOZ should penetrate 31.66(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 29.06(Average Objective).
August Soybean Meal(CBOT): The SMQ7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 317.00(Prev Close), the market ended May at 299.40(Month Close), that being 5%(Pct Range) off of 297.90(Month Low) to 325.80(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the August Soybean Meal(CBOT) also closed lower in May than April in 22(Cond Years) of those years. Of those 22, SMQ went on to penetrate the May low within the next 2 months in 21 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the SMQ should penetrate 297.90(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 275.92(Average Objective).
September Soybean Meal(CBOT): The SMU7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 317.30(Prev Close), the market ended May at 300.60(Month Close), that being 5%(Pct Range) off of 299.40(Month Low) to 325.60(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the September Soybean Meal(CBOT) also closed lower in May than April in 22(Cond Years) of those years. Of those 22, SMU went on to penetrate the May low within the next 2 months in 21 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the SMU should penetrate 299.40(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 277.71(Average Objective).
October Soybean Meal(CBOT): The SMV7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 316.10(Prev Close), the market ended May at 301.40(Month Close), that being 4%(Pct Range) off of 300.50(Month Low) to 323.70(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the October Soybean Meal(CBOT) also closed lower in May than April in 21(Cond Years) of those years. Of those 21, SMV went on to penetrate the May low within the next 2 months in 18 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the SMV should penetrate 300.50(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 278.39(Average Objective).
December Soybean Meal(CBOT): The SMZ7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 317.00(Prev Close), the market ended May at 303.00(Month Close), that being 3%(Pct Range) off of 302.30(Month Low) to 325.00(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the December Soybean Meal(CBOT) also closed lower in May than April in 20(Cond Years) of those years. Of those 20, SMZ went on to penetrate the May low within the next 2 months in 19 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the SMZ should penetrate 302.30(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 284.13(Average Objective).
December Corn(CBOT): The CZ7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 385.00(Prev Close), the market ended May at 391.00(Month Close), that being 65%(Pct Range) off of 382.00(Month Low) to 395.75(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the December Corn(CBOT) also closed higher in May than April in 21(Cond Years) of those years. Of those 21, CZ went on to exceed the May high within the next 2 months in 18 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the CZ should exceed 395.75(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 435.73(Average Objective).
September Wheat(CBOT): The WU7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 445.75(Prev Close), the market ended May at 443.75(Month Close), that being 22%(Pct Range) off of 435.00(Month Low) to 474.00(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the September Wheat(CBOT) also closed lower in May than April in 28(Cond Years) of those years. Of those 28, WU went on to penetrate the May low within the next 2 months in 24 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the WU should penetrate 435.00(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 24 years) a potential move toward 392.31(Average Objective).
December Wheat(CBOT): The WZ7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 468.25(Prev Close), the market ended May at 466.50(Month Close), that being 26%(Pct Range) off of 456.50(Month Low) to 494.75(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the December Wheat(CBOT) also closed lower in May than April in 27(Cond Years) of those years. Of those 27, WZ went on to penetrate the May low within the next 2 months in 23 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the WZ should penetrate 456.50(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 413.53(Average Objective).
September Wheat(KCBT): The KWU7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 452.75(Prev Close), the market ended May at 450.00(Month Close), that being 24%(Pct Range) off of 438.00(Month Low) to 488.50(Month High).

In comparing the April/May closes for each of the last 41 years(Total Years), Scenario found that the September Wheat(KCBT) also closed lower in May than April in 22(Cond Years) of those years. Of those 22, KWU went on to penetrate the May low within the next 2 months in 21 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the KWU should penetrate 438.00(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 398.72(Average Objective).
December Wheat(KCBT): The KWZ7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 477.00(Prev Close), the market ended May at 475.25(Month Close), that being 27%(Pct Range) off of 463.00(Month Low) to 509.00(Month High).

In comparing the April/May closes for each of the last 41 years(Total Years), Scenario found that the December Wheat(KCBT) also closed lower in May than April in 22(Cond Years) of those years. Of those 22, KWZ went on to penetrate the May low within the next 2 months in 21 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the KWZ should penetrate 463.00(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 423.85(Average Objective).
October Lean Hogs(CME): The HEV7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 66.650(Prev Close), the market ended May at 68.430(Month Close), that being 88%(Pct Range) off of 66.130(Month Low) to 68.730(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the October Lean Hogs(CME) also closed higher in May than April in 22(Cond Years) of those years. Of those 22, HEV went on to exceed the May high within the next 2 months in 20 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the HEV should exceed 68.730(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 74.375(Average Objective).
September Coffee "C"(ICE): The KCU7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 135.75(Prev Close), the market ended May at 131.70(Month Close), that being 20%(Pct Range) off of 129.60(Month Low) to 140.00(Month High).

In comparing the April/May closes for each of the last 43 years(Total Years), Scenario found that the September Coffee "C"(ICE) also closed lower in May than April in 25(Cond Years) of those years. Of those 25, KCU went on to penetrate the May low within the next 2 months in 21 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the KCU should penetrate 129.60(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 112.70(Average Objective).
October Sugar #11(ICE): The SBV7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 16.32(Prev Close), the market ended May at 15.13(Month Close), that being 5%(Pct Range) off of 15.05(Month Low) to 16.77(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the October Sugar #11(ICE) also closed lower in May than April in 26(Cond Years) of those years. Of those 26, SBV went on to penetrate the May low within the next 2 months in 22 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the SBV should penetrate 15.05(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 12.83(Average Objective).
September Cocoa(ICE): The CCU7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 1850(Prev Close), the market ended May at 2056(Month Close), that being 87%(Pct Range) off of 1782(Month Low) to 2097(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the September Cocoa(ICE) also closed higher in May than April in 18(Cond Years) of those years. Of those 18, CCU went on to exceed the May high within the next 2 months in 16 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the CCU should exceed 2097(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 2335(Average Objective).
December Cocoa(ICE): The CCZ7(Mkt) ended Higher(Cond) for May(Month). Compared to April's 1871(Prev Close), the market ended May at 2071(Month Close), that being 86%(Pct Range) off of 1806(Month Low) to 2114(Month High).

In comparing the April/May closes for each of the last 45 years(Total Years), Scenario found that the December Cocoa(ICE) also closed higher in May than April in 19(Cond Years) of those years. Of those 19, CCZ went on to exceed the May high within the next 2 months in 17 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the CCZ should exceed 2114(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 2373(Average Objective).
September Lumber(CME): The LBU7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 387.9(Prev Close), the market ended May at 340.8(Month Close), that being 8%(Pct Range) off of 336.3(Month Low) to 394.9(Month High).

In comparing the April/May closes for each of the last 44 years(Total Years), Scenario found that the September Lumber(CME) also closed lower in May than April in 20(Cond Years) of those years. Of those 20, LBU went on to penetrate the May low within the next 2 months in 18 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the LBU should penetrate 336.3(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 299.6(Average Objective).
November Lumber(CME): The LBX7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 382.1(Prev Close), the market ended May at 331.1(Month Close), that being 5%(Pct Range) off of 328.1(Month Low) to 387.7(Month High).

In comparing the April/May closes for each of the last 44 years(Total Years), Scenario found that the November Lumber(CME) also closed lower in May than April in 20(Cond Years) of those years. Of those 20, LBX went on to penetrate the May low within the next 2 months in 19 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the LBX should penetrate 328.1(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 299.2(Average Objective).
December Cotton(ICE): The CTZ7(Mkt) ended Lower(Cond) for May(Month). Compared to April's 74.62(Prev Close), the market ended May at 72.79(Month Close), that being 21%(Pct Range) off of 72.15(Month Low) to 75.15(Month High).

In comparing the April/May closes for each of the last 44 years(Total Years), Scenario found that the December Cotton(ICE) also closed lower in May than April in 24(Cond Years) of those years. Of those 24, CTZ went on to penetrate the May low within the next 2 months in 21 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the CTZ should penetrate 72.15(Scenario Objective) by no later than the end of July. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 67.10(Average Objective).

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