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MRCI's Scenario Summary

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MRCI's ScenarioSM Summary

Copyright © 1989- Moore Research Center, Inc. All Rights Reserved.
ScenarioSM Summary Jan 31, 2022
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
#SP Lower Jan 4766.25 4818.50 4222.75 4515.50 49% 45 19 16 84% 4222.75 3954.81 4515.50
EUH2 Lower Jan 114.03 114.96 111.31 112.54 34% 23 15 13 87% 111.31 108.48 112.54
GCJ2 Lower Jan 1831.0 1856.7 1780.6 1796.4 21% 45 22 19 86% 1780.6 1697.0 1796.4
PLJ2 Higher Jan 966.2 1064.6 919.5 1020.8 70% 45 30 27 90% 1064.6 1151.6 1020.8
CLK2 Higher Jan 73.94 86.03 73.19 85.11 93% 38 20 19 95% 86.03 96.14 85.11
CLM2 Higher Jan 73.37 84.79 72.68 83.85 92% 38 21 20 95% 84.79 94.11 83.85
RBK2 Higher Jan 232.41 266.50 231.12 264.22 94% 36 22 20 91% 266.50 300.78 264.22
RBM2 Higher Jan 230.67 263.14 229.56 260.86 93% 36 23 20 87% 263.14 297.81 260.86
NGK2 Higher Jan 3.525 4.792 3.499 4.660 90% 31 14 12 86% 4.792 5.502 4.660
NGM2 Higher Jan 3.579 4.823 3.555 4.692 90% 31 15 13 87% 4.823 5.512 4.692
CBM2 Higher Jan 76.39 87.65 75.72 86.64 92% 31 16 15 94% 87.65 97.96 86.64
CBN2 Higher Jan 75.84 86.63 75.20 85.57 91% 30 14 14 100% 86.63 96.61 85.57
SK2 Higher Jan 1349.00 1501.50 1351.75 1495.25 96% 45 22 19 86% 1501.50 1620.21 1495.25
SN2 Higher Jan 1355.00 1498.25 1357.50 1492.50 96% 45 23 20 87% 1498.25 1616.08 1492.50
BOK2 Higher Jan 56.57 66.67 56.36 64.81 82% 45 19 17 89% 66.67 73.83 64.81
BON2 Higher Jan 56.51 66.15 56.31 64.40 82% 45 20 17 85% 66.15 72.79 64.40
CK2 Higher Jan 595.00 640.50 586.75 624.50 70% 45 25 22 88% 640.50 684.22 624.50
CN2 Higher Jan 593.50 634.25 584.75 619.25 70% 45 24 22 92% 634.25 678.10 619.25
WK2 Lower Jan 774.25 834.00 738.75 766.25 29% 45 21 18 86% 738.75 680.96 766.25
WN2 Lower Jan 764.50 817.75 736.00 760.50 30% 45 21 19 90% 736.00 684.23 760.50
KWK2 Lower Jan 802.00 851.00 747.50 784.25 36% 45 21 19 90% 747.50 700.91 784.25
KWN2 Lower Jan 797.75 846.25 751.25 784.00 34% 45 20 18 90% 751.25 702.51 784.00
ON2 Lower Jan 605.25 613.00 546.00 593.25 71% 45 26 22 85% 546.00 498.23 593.25
HEJ2 Higher Jan 86.730 97.500 83.600 95.700 87% 45 26 22 85% 97.500 105.882 95.700
HEK2 Higher Jan 91.500 101.480 89.030 99.680 86% 20 12 11 92% 101.480 107.787 99.680
HEM2 Higher Jan 97.550 107.250 95.300 105.530 86% 45 30 26 87% 107.250 115.534 105.530
KCK1 Lower Jan 130.15 133.75 120.85 125.00 32% 45 25 23 92% 120.85 110.87 151.80
CCN2 Higher Jan 2563 2742 2478 2600 46% 45 16 15 94% 2742 3016 2600
CTN2 Higher Jan 107.88 120.40 108.36 119.66 94% 45 21 18 86% 120.40 131.73 119.66


S & P 500 Stock Index
The #SP(Mkt) ended Lower(Cond) for January(Month). Compared to December's 4766.25(Prev Close), the market ended January at 4515.50(Month Close), that being 49%(Pct Range) off of 4222.75(Month Low) to 4818.50(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the S & P 500 Stock Index also closed lower in January than December in 19(Cond Years) of those years. Of those 19, the #SP went on to penetrate the January low within the next 2 months in 16 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the the #SP should penetrate 4222.75(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 3954.81(Average Objective).

March EuroFX(CME)
The EUH2(Mkt) ended Lower(Cond) for January(Month). Compared to December's 114.03(Prev Close), the market ended January at 112.54(Month Close), that being 34%(Pct Range) off of 111.31(Month Low) to 114.96(Month High).

In comparing the December/January closes for each of the last 23 years(Total Years), Scenario found that the March EuroFX(CME) also closed lower in January than December in 15(Cond Years) of those years. Of those 15, EUH went on to penetrate the January 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 EUH should penetrate 111.31(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 108.48(Average Objective).

April Gold(CMX)
The GCJ2(Mkt) ended Lower(Cond) for January(Month). Compared to December's 1831.0(Prev Close), the market ended January at 1796.4(Month Close), that being 21%(Pct Range) off of 1780.6(Month Low) to 1856.7(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the April Gold(CMX) also closed lower in January than December in 22(Cond Years) of those years. Of those 22, GCJ went on to penetrate the January low within the next 2 months in 19 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the GCJ should penetrate 1780.6(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 1697.0(Average Objective).

April Platinum(NYMEX)
The PLJ2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 966.2(Prev Close), the market ended January at 1020.8(Month Close), that being 70%(Pct Range) off of 919.5(Month Low) to 1064.6(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the April Platinum(NYMEX) also closed higher in January than December in 30(Cond Years) of those years. Of those 30, PLJ went on to exceed the January high within the next 2 months in 27 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the PLJ should exceed 1064.6(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 27 years) a potential move toward 1151.6(Average Objective).

May Crude Oil(NYM)
The CLK2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 73.94(Prev Close), the market ended January at 85.11(Month Close), that being 93%(Pct Range) off of 73.19(Month Low) to 86.03(Month High).

In comparing the December/January closes for each of the last 38 years(Total Years), Scenario found that the May Crude Oil(NYM) also closed higher in January than December in 20(Cond Years) of those years. Of those 20, CLK went on to exceed the January high within the next 2 months in 19 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the CLK should exceed 86.03(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 96.14(Average Objective).

June Crude Oil(NYM)
The CLM2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 73.37(Prev Close), the market ended January at 83.85(Month Close), that being 92%(Pct Range) off of 72.68(Month Low) to 84.79(Month High).

In comparing the December/January closes for each of the last 38 years(Total Years), Scenario found that the June Crude Oil(NYM) also closed higher in January than December in 21(Cond Years) of those years. Of those 21, CLM went on to exceed the January 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 CLM should exceed 84.79(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 94.11(Average Objective).

May RBOB Gasoline(NYM)
The RBK2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 232.41(Prev Close), the market ended January at 264.22(Month Close), that being 94%(Pct Range) off of 231.12(Month Low) to 266.50(Month High).

In comparing the December/January closes for each of the last 36 years(Total Years), Scenario found that the May RBOB Gasoline(NYM) also closed higher in January than December in 22(Cond Years) of those years. Of those 22, RBK went on to exceed the January 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 RBK should exceed 266.50(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 300.78(Average Objective).

June RBOB Gasoline(NYM)
The RBM2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 230.67(Prev Close), the market ended January at 260.86(Month Close), that being 93%(Pct Range) off of 229.56(Month Low) to 263.14(Month High).

In comparing the December/January closes for each of the last 36 years(Total Years), Scenario found that the June RBOB Gasoline(NYM) also closed higher in January than December in 23(Cond Years) of those years. Of those 23, RBM went on to exceed the January 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 RBM should exceed 263.14(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 297.81(Average Objective).

May Natural Gas(NYM)
The NGK2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 3.525(Prev Close), the market ended January at 4.660(Month Close), that being 90%(Pct Range) off of 3.499(Month Low) to 4.792(Month High).

In comparing the December/January closes for each of the last 31 years(Total Years), Scenario found that the May Natural Gas(NYM) also closed higher in January than December in 14(Cond Years) of those years. Of those 14, NGK went on to exceed the January 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 NGK should exceed 4.792(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 5.502(Average Objective).

June Natural Gas(NYM)
The NGM2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 3.579(Prev Close), the market ended January at 4.692(Month Close), that being 90%(Pct Range) off of 3.555(Month Low) to 4.823(Month High).

In comparing the December/January closes for each of the last 31 years(Total Years), Scenario found that the June Natural Gas(NYM) also closed higher in January than December in 15(Cond Years) of those years. Of those 15, NGM went on to exceed the January high within the next 2 months in 13 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the NGM should exceed 4.823(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 5.512(Average Objective).

June Brent Crude Oil(ICE)
The CBM2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 76.39(Prev Close), the market ended January at 86.64(Month Close), that being 92%(Pct Range) off of 75.72(Month Low) to 87.65(Month High).

In comparing the December/January closes for each of the last 31 years(Total Years), Scenario found that the June Brent Crude Oil(ICE) also closed higher in January than December in 16(Cond Years) of those years. Of those 16, CBM went on to exceed the January 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 CBM should exceed 87.65(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 97.96(Average Objective).

July Brent Crude Oil(ICE)
The CBN2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 75.84(Prev Close), the market ended January at 85.57(Month Close), that being 91%(Pct Range) off of 75.20(Month Low) to 86.63(Month High).

In comparing the December/January closes for each of the last 30 years(Total Years), Scenario found that the July Brent Crude Oil(ICE) also closed higher in January than December in 14(Cond Years) of those years. Of those 14, CBN went on to exceed the January high within the next 2 months in 14 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the CBN should exceed 86.63(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 96.61(Average Objective).

May Soybeans(CBOT)
The SK2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 1349.00(Prev Close), the market ended January at 1495.25(Month Close), that being 96%(Pct Range) off of 1351.75(Month Low) to 1501.50(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the May Soybeans(CBOT) also closed higher in January than December in 22(Cond Years) of those years. Of those 22, SK went on to exceed the January high within the next 2 months in 19 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the SK should exceed 1501.50(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 1620.21(Average Objective).

July Soybeans(CBOT)
The SN2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 1355.00(Prev Close), the market ended January at 1492.50(Month Close), that being 96%(Pct Range) off of 1357.50(Month Low) to 1498.25(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the July Soybeans(CBOT) also closed higher in January than December in 23(Cond Years) of those years. Of those 23, SN went on to exceed the January 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 SN should exceed 1498.25(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 1616.08(Average Objective).

May Soybean Oil(CBOT)
The BOK2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 56.57(Prev Close), the market ended January at 64.81(Month Close), that being 82%(Pct Range) off of 56.36(Month Low) to 66.67(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the May Soybean Oil(CBOT) also closed higher in January than December in 19(Cond Years) of those years. Of those 19, BOK went on to exceed the January 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 BOK should exceed 66.67(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 73.83(Average Objective).

July Soybean Oil(CBOT)
The BON2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 56.51(Prev Close), the market ended January at 64.40(Month Close), that being 82%(Pct Range) off of 56.31(Month Low) to 66.15(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the July Soybean Oil(CBOT) also closed higher in January than December in 20(Cond Years) of those years. Of those 20, BON went on to exceed the January high within the next 2 months in 17 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the BON should exceed 66.15(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 72.79(Average Objective).

May Corn(CBOT)
The CK2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 595.00(Prev Close), the market ended January at 624.50(Month Close), that being 70%(Pct Range) off of 586.75(Month Low) to 640.50(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the May Corn(CBOT) also closed higher in January than December in 25(Cond Years) of those years. Of those 25, CK went on to exceed the January high within the next 2 months in 22 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the CK should exceed 640.50(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 684.22(Average Objective).

July Corn(CBOT)
The CN2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 593.50(Prev Close), the market ended January at 619.25(Month Close), that being 70%(Pct Range) off of 584.75(Month Low) to 634.25(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the July Corn(CBOT) also closed higher in January than December in 24(Cond Years) of those years. Of those 24, CN went on to exceed the January 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 CN should exceed 634.25(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 678.10(Average Objective).

May Wheat(CBOT)
The WK2(Mkt) ended Lower(Cond) for January(Month). Compared to December's 774.25(Prev Close), the market ended January at 766.25(Month Close), that being 29%(Pct Range) off of 738.75(Month Low) to 834.00(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the May Wheat(CBOT) also closed lower in January than December in 21(Cond Years) of those years. Of those 21, WK went on to penetrate the January 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 WK should penetrate 738.75(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 680.96(Average Objective).

July Wheat(CBOT)
The WN2(Mkt) ended Lower(Cond) for January(Month). Compared to December's 764.50(Prev Close), the market ended January at 760.50(Month Close), that being 30%(Pct Range) off of 736.00(Month Low) to 817.75(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the July Wheat(CBOT) also closed lower in January than December in 21(Cond Years) of those years. Of those 21, WN went on to penetrate the January low within the next 2 months in 19 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the WN should penetrate 736.00(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 684.23(Average Objective).

May Wheat(KCBT)
The KWK2(Mkt) ended Lower(Cond) for January(Month). Compared to December's 802.00(Prev Close), the market ended January at 784.25(Month Close), that being 36%(Pct Range) off of 747.50(Month Low) to 851.00(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the May Wheat(KCBT) also closed lower in January than December in 21(Cond Years) of those years. Of those 21, KWK went on to penetrate the January low within the next 2 months in 19 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the KWK should penetrate 747.50(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 700.91(Average Objective).

July Wheat(KCBT)
The KWN2(Mkt) ended Lower(Cond) for January(Month). Compared to December's 797.75(Prev Close), the market ended January at 784.00(Month Close), that being 34%(Pct Range) off of 751.25(Month Low) to 846.25(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the July Wheat(KCBT) also closed lower in January than December in 20(Cond Years) of those years. Of those 20, KWN went on to penetrate the January 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 KWN should penetrate 751.25(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 702.51(Average Objective).

July Oats(CBOT)
The ON2(Mkt) ended Lower(Cond) for January(Month). Compared to December's 605.25(Prev Close), the market ended January at 593.25(Month Close), that being 71%(Pct Range) off of 546.00(Month Low) to 613.00(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the July Oats(CBOT) also closed lower in January than December in 26(Cond Years) of those years. Of those 26, ON went on to penetrate the January 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 ON should penetrate 546.00(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 498.23(Average Objective).

April Lean Hogs(CME)
The HEJ2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 86.730(Prev Close), the market ended January at 95.700(Month Close), that being 87%(Pct Range) off of 83.600(Month Low) to 97.500(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the April Lean Hogs(CME) also closed higher in January than December in 26(Cond Years) of those years. Of those 26, HEJ went on to exceed the January high within the next 2 months in 22 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the HEJ should exceed 97.500(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 105.882(Average Objective).

May Lean Hogs(CME)
The HEK2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 91.500(Prev Close), the market ended January at 99.680(Month Close), that being 86%(Pct Range) off of 89.030(Month Low) to 101.480(Month High).

In comparing the December/January closes for each of the last 20 years(Total Years), Scenario found that the May Lean Hogs(CME) also closed higher in January than December in 12(Cond Years) of those years. Of those 12, HEK went on to exceed the January high within the next 2 months in 11 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the HEK should exceed 101.480(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 107.787(Average Objective).

June Lean Hogs(CME)
The HEM2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 97.550(Prev Close), the market ended January at 105.530(Month Close), that being 86%(Pct Range) off of 95.300(Month Low) to 107.250(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the June Lean Hogs(CME) also closed higher in January than December in 30(Cond Years) of those years. Of those 30, HEM went on to exceed the January high within the next 2 months in 26 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the HEM should exceed 107.250(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 26 years) a potential move toward 115.534(Average Objective).

May Coffee "C"(ICE)
The KCK1(Mkt) ended Lower(Cond) for January(Month). Compared to December's 130.15(Prev Close), the market ended January at 125.00(Month Close), that being 32%(Pct Range) off of 120.85(Month Low) to 133.75(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the May Coffee "C"(ICE) also closed lower in January than December in 25(Cond Years) of those years. Of those 25, KCK went on to penetrate the January low within the next 2 months in 23 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the KCK should penetrate 120.85(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 110.87(Average Objective).

July Cocoa(ICE)
The CCN2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 2563(Prev Close), the market ended January at 2600(Month Close), that being 46%(Pct Range) off of 2478(Month Low) to 2742(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the July Cocoa(ICE) also closed higher in January than December in 16(Cond Years) of those years. Of those 16, CCN went on to exceed the January 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 CCN should exceed 2742(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 3016(Average Objective).

July Cotton(ICE)
The CTN2(Mkt) ended Higher(Cond) for January(Month). Compared to December's 107.88(Prev Close), the market ended January at 119.66(Month Close), that being 94%(Pct Range) off of 108.36(Month Low) to 120.40(Month High).

In comparing the December/January closes for each of the last 45 years(Total Years), Scenario found that the July Cotton(ICE) also closed higher in January than December in 21(Cond Years) of those years. Of those 21, CTN went on to exceed the January 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 CTN should exceed 120.40(Scenario Objective) by no later than the end of March. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 131.73(Average Objective).
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