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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 Sep 30, 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
EUZ2 Lower Sep 101.20 102.65 95.92 98.62 40% 23 12 12 100% 95.92 93.02 98.62
JYZ2 Lower Sep 72.84 72.67 69.15 69.64 14% 45 22 21 95% 69.15 66.76 69.64
SFZ2 Lower Sep 103.38 106.33 101.11 102.14 20% 45 18 16 89% 101.11 97.83 102.14
DXZ2 Higher Sep 108.400 114.745 107.450 112.085 64% 36 17 16 94% 114.745 118.130 112.085
PLF3 Higher Sep 831.6 934.3 801.2 859.1 44% 45 18 16 89% 934.3 999.7 859.1
PAZ2 Higher Sep 2078.90 2280.00 1943.00 2182.20 71% 45 25 22 88% 2280.00 2545.10 2182.20
HOF3 Lower Sep 348.35 354.16 293.01 307.35 23% 43 17 15 88% 293.01 264.83 307.35
NGF3 Lower Sep 9.396 9.654 6.976 7.247 10% 32 15 14 93% 6.976 5.933 7.247
NGG3 Lower Sep 9.013 9.271 6.684 6.937 10% 32 16 15 94% 6.684 5.822 6.937
CBG3 Lower Sep 91.74 92.73 79.68 81.99 18% 32 13 11 85% 79.68 69.47 81.99
CBH3 Lower Sep 90.76 91.51 78.66 80.71 16% 31 13 11 85% 78.66 69.01 80.71
SF3 Lower Sep 1427.75 1512.25 1374.25 1375.50 1% 45 26 23 88% 1374.25 1283.31 1375.50
SH3 Lower Sep 1430.00 1508.00 1381.25 1383.25 2% 45 24 22 92% 1381.25 1294.78 1383.25
BOZ2 Lower Sep 67.48 68.00 60.75 61.56 11% 45 27 23 85% 60.75 56.20 61.56
BOF3 Lower Sep 66.56 67.00 60.11 60.89 11% 45 26 22 85% 60.11 55.64 60.89
BOH3 Lower Sep 65.50 65.93 59.35 60.12 12% 45 26 22 85% 59.35 55.08 60.12
SMZ2 Lower Sep 415.10 443.80 402.40 403.00 1% 45 26 23 88% 402.40 378.91 403.00
SMF3 Lower Sep 409.90 437.40 400.80 401.30 1% 45 26 24 92% 400.80 377.94 401.30
SMH3 Lower Sep 401.60 429.40 394.10 397.20 9% 45 26 23 88% 394.10 370.89 397.20
CZ2 Higher Sep 670.50 699.50 654.00 677.50 52% 45 18 17 94% 699.50 769.61 677.50
CH3 Higher Sep 676.50 702.75 660.25 684.00 56% 45 18 17 94% 702.75 767.61 684.00
KWZ2 Higher Sep 912.50 1010.75 865.00 991.50 87% 45 29 25 86% 1010.75 1083.83 991.50
KWH3 Higher Sep 911.25 1004.50 865.25 985.25 86% 45 29 26 90% 1004.50 1071.08 985.25
OZ2 Lower Sep 395.75 420.00 364.00 390.00 46% 45 19 17 89% 364.00 331.09 390.00
LCZ2 Lower Sep 148.485 152.235 145.580 147.050 22% 45 20 19 95% 145.580 138.997 147.050
FCX2 Lower Sep 184.530 187.830 174.235 174.635 3% 45 20 18 90% 174.235 167.172 174.635
FCF3 Lower Sep 185.135 188.250 175.150 175.680 4% 45 19 19 100% 175.150 166.531 175.680
HEZ2 Lower Sep 83.880 89.080 75.330 76.230 7% 45 14 14 100% 75.330 68.761 76.230
HEZ2 Lower Sep 83.880 89.080 75.330 76.230 7% 45 14 14 100% 75.330 68.761 76.230
HEG3 Lower Sep 87.800 92.580 78.980 79.430 3% 45 15 13 87% 78.980 73.753 79.430
CCZ2 Lower Sep 2413 2429 2192 2354 68% 45 22 21 95% 2192 1990 2354
CCH3 Lower Sep 2396 2409 2190 2340 68% 45 23 21 91% 2190 1980 2340
CTH3 Lower Sep 110.14 110.09 81.96 83.45 5% 45 28 24 86% 81.96 77.20 83.45


December EuroFX(CME)
The EUZ2(Mkt) ended Lower(Cond) for September(Month). Compared to August's 101.20(Prev Close), the market ended September at 98.62(Month Close), that being 40%(Pct Range) off of 95.92(Month Low) to 102.65(Month High).

In comparing the August/September closes for each of the last 23 years(Total Years), Scenario found that the December EuroFX(CME) also closed lower in September than August in 12(Cond Years) of those years. Of those 12, EUZ went on to penetrate the September low within the next 2 months in 12 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the EUZ should penetrate 95.92(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 93.02(Average Objective).

December Japanese Yen(CME)
The JYZ2(Mkt) ended Lower(Cond) for September(Month). Compared to August's 72.84(Prev Close), the market ended September at 69.64(Month Close), that being 14%(Pct Range) off of 69.15(Month Low) to 72.67(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Japanese Yen(CME) also closed lower in September than August in 22(Cond Years) of those years. Of those 22, JYZ went on to penetrate the September 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 JYZ should penetrate 69.15(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 66.76(Average Objective).

December Swiss Franc(CME)
The SFZ2(Mkt) ended Lower(Cond) for September(Month). Compared to August's 103.38(Prev Close), the market ended September at 102.14(Month Close), that being 20%(Pct Range) off of 101.11(Month Low) to 106.33(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Swiss Franc(CME) also closed lower in September than August in 18(Cond Years) of those years. Of those 18, SFZ went on to penetrate the September low within the next 2 months in 16 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the SFZ should penetrate 101.11(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 97.83(Average Objective).

December US Dollar Index(ICE)
The DXZ2(Mkt) ended Higher(Cond) for September(Month). Compared to August's 108.400(Prev Close), the market ended September at 112.085(Month Close), that being 64%(Pct Range) off of 107.450(Month Low) to 114.745(Month High).

In comparing the August/September closes for each of the last 36 years(Total Years), Scenario found that the December US Dollar Index(ICE) also closed higher in September than August in 17(Cond Years) of those years. Of those 17, DXZ went on to exceed the September 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 DXZ should exceed 114.745(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 118.130(Average Objective).

January Platinum(NYMEX)
The PLF3(Mkt) ended Higher(Cond) for September(Month). Compared to August's 831.6(Prev Close), the market ended September at 859.1(Month Close), that being 44%(Pct Range) off of 801.2(Month Low) to 934.3(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the January Platinum(NYMEX) also closed higher in September than August in 18(Cond Years) of those years. Of those 18, PLF went on to exceed the September 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 PLF should exceed 934.3(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 999.7(Average Objective).

December Palladium(NYMEX)
The PAZ2(Mkt) ended Higher(Cond) for September(Month). Compared to August's 2078.90(Prev Close), the market ended September at 2182.20(Month Close), that being 71%(Pct Range) off of 1943.00(Month Low) to 2280.00(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Palladium(NYMEX) also closed higher in September than August in 25(Cond Years) of those years. Of those 25, PAZ went on to exceed the September 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 PAZ should exceed 2280.00(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 2545.10(Average Objective).

January NY Harbor ULSD(NYM)
The HOF3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 348.35(Prev Close), the market ended September at 307.35(Month Close), that being 23%(Pct Range) off of 293.01(Month Low) to 354.16(Month High).

In comparing the August/September closes for each of the last 43 years(Total Years), Scenario found that the January NY Harbor ULSD(NYM) also closed lower in September than August in 17(Cond Years) of those years. Of those 17, HOF went on to penetrate the September low within the next 2 months in 15 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the HOF should penetrate 293.01(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 264.83(Average Objective).

January Natural Gas(NYM)
The NGF3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 9.396(Prev Close), the market ended September at 7.247(Month Close), that being 10%(Pct Range) off of 6.976(Month Low) to 9.654(Month High).

In comparing the August/September closes for each of the last 32 years(Total Years), Scenario found that the January Natural Gas(NYM) also closed lower in September than August in 15(Cond Years) of those years. Of those 15, NGF went on to penetrate the September low within the next 2 months in 14 years(Action Years) or 93%(Pct) of the time.

Therefore, the historical odds are high that the NGF should penetrate 6.976(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 5.933(Average Objective).

February Natural Gas(NYM)
The NGG3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 9.013(Prev Close), the market ended September at 6.937(Month Close), that being 10%(Pct Range) off of 6.684(Month Low) to 9.271(Month High).

In comparing the August/September closes for each of the last 32 years(Total Years), Scenario found that the February Natural Gas(NYM) also closed lower in September than August in 16(Cond Years) of those years. Of those 16, NGG went on to penetrate the September low within the next 2 months in 15 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the NGG should penetrate 6.684(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 5.822(Average Objective).

February Brent Crude Oil(ICE)
The CBG3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 91.74(Prev Close), the market ended September at 81.99(Month Close), that being 18%(Pct Range) off of 79.68(Month Low) to 92.73(Month High).

In comparing the August/September closes for each of the last 32 years(Total Years), Scenario found that the February Brent Crude Oil(ICE) also closed lower in September than August in 13(Cond Years) of those years. Of those 13, CBG went on to penetrate the September low within the next 2 months in 11 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the CBG should penetrate 79.68(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 69.47(Average Objective).

March Brent Crude Oil(ICE)
The CBH3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 90.76(Prev Close), the market ended September at 80.71(Month Close), that being 16%(Pct Range) off of 78.66(Month Low) to 91.51(Month High).

In comparing the August/September closes for each of the last 31 years(Total Years), Scenario found that the March Brent Crude Oil(ICE) also closed lower in September than August in 13(Cond Years) of those years. Of those 13, CBH went on to penetrate the September low within the next 2 months in 11 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the CBH should penetrate 78.66(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 69.01(Average Objective).

January Soybeans(CBOT)
The SF3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 1427.75(Prev Close), the market ended September at 1375.50(Month Close), that being 1%(Pct Range) off of 1374.25(Month Low) to 1512.25(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the January Soybeans(CBOT) also closed lower in September than August in 26(Cond Years) of those years. Of those 26, SF went on to penetrate the September low within the next 2 months in 23 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the SF should penetrate 1374.25(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 1283.31(Average Objective).

March Soybeans(CBOT)
The SH3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 1430.00(Prev Close), the market ended September at 1383.25(Month Close), that being 2%(Pct Range) off of 1381.25(Month Low) to 1508.00(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the March Soybeans(CBOT) also closed lower in September than August in 24(Cond Years) of those years. Of those 24, SH went on to penetrate the September low within the next 2 months in 22 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the SH should penetrate 1381.25(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 1294.78(Average Objective).

December Soybean Oil(CBOT)
The BOZ2(Mkt) ended Lower(Cond) for September(Month). Compared to August's 67.48(Prev Close), the market ended September at 61.56(Month Close), that being 11%(Pct Range) off of 60.75(Month Low) to 68.00(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Soybean Oil(CBOT) also closed lower in September than August in 27(Cond Years) of those years. Of those 27, BOZ went on to penetrate the September 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 BOZ should penetrate 60.75(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 56.20(Average Objective).

January Soybean Oil(CBOT)
The BOF3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 66.56(Prev Close), the market ended September at 60.89(Month Close), that being 11%(Pct Range) off of 60.11(Month Low) to 67.00(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the January Soybean Oil(CBOT) also closed lower in September than August in 26(Cond Years) of those years. Of those 26, BOF went on to penetrate the September 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 BOF should penetrate 60.11(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 55.64(Average Objective).

March Soybean Oil(CBOT)
The BOH3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 65.50(Prev Close), the market ended September at 60.12(Month Close), that being 12%(Pct Range) off of 59.35(Month Low) to 65.93(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the March Soybean Oil(CBOT) also closed lower in September than August in 26(Cond Years) of those years. Of those 26, BOH went on to penetrate the September 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 BOH should penetrate 59.35(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 55.08(Average Objective).

December Soybean Meal(CBOT)
The SMZ2(Mkt) ended Lower(Cond) for September(Month). Compared to August's 415.10(Prev Close), the market ended September at 403.00(Month Close), that being 1%(Pct Range) off of 402.40(Month Low) to 443.80(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Soybean Meal(CBOT) also closed lower in September than August in 26(Cond Years) of those years. Of those 26, SMZ went on to penetrate the September low within the next 2 months in 23 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the SMZ should penetrate 402.40(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 378.91(Average Objective).

January Soybean Meal(CBOT)
The SMF3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 409.90(Prev Close), the market ended September at 401.30(Month Close), that being 1%(Pct Range) off of 400.80(Month Low) to 437.40(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the January Soybean Meal(CBOT) also closed lower in September than August in 26(Cond Years) of those years. Of those 26, SMF went on to penetrate the September low within the next 2 months in 24 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the SMF should penetrate 400.80(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 24 years) a potential move toward 377.94(Average Objective).

March Soybean Meal(CBOT)
The SMH3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 401.60(Prev Close), the market ended September at 397.20(Month Close), that being 9%(Pct Range) off of 394.10(Month Low) to 429.40(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the March Soybean Meal(CBOT) also closed lower in September than August in 26(Cond Years) of those years. Of those 26, SMH went on to penetrate the September low within the next 2 months in 23 years(Action Years) or 88%(Pct) of the time.

Therefore, the historical odds are high that the SMH should penetrate 394.10(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 23 years) a potential move toward 370.89(Average Objective).

December Corn(CBOT)
The CZ2(Mkt) ended Higher(Cond) for September(Month). Compared to August's 670.50(Prev Close), the market ended September at 677.50(Month Close), that being 52%(Pct Range) off of 654.00(Month Low) to 699.50(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Corn(CBOT) also closed higher in September than August in 18(Cond Years) of those years. Of those 18, CZ went on to exceed the September high within the next 2 months in 17 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the CZ should exceed 699.50(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 769.61(Average Objective).

March Corn(CBOT)
The CH3(Mkt) ended Higher(Cond) for September(Month). Compared to August's 676.50(Prev Close), the market ended September at 684.00(Month Close), that being 56%(Pct Range) off of 660.25(Month Low) to 702.75(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the March Corn(CBOT) also closed higher in September than August in 18(Cond Years) of those years. Of those 18, CH went on to exceed the September high within the next 2 months in 17 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the CH should exceed 702.75(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 767.61(Average Objective).

December Wheat(KCBT)
The KWZ2(Mkt) ended Higher(Cond) for September(Month). Compared to August's 912.50(Prev Close), the market ended September at 991.50(Month Close), that being 87%(Pct Range) off of 865.00(Month Low) to 1010.75(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Wheat(KCBT) also closed higher in September than August in 29(Cond Years) of those years. Of those 29, KWZ went on to exceed the September high within the next 2 months in 25 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the KWZ should exceed 1010.75(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 25 years) a potential move toward 1083.83(Average Objective).

March Wheat(KCBT)
The KWH3(Mkt) ended Higher(Cond) for September(Month). Compared to August's 911.25(Prev Close), the market ended September at 985.25(Month Close), that being 86%(Pct Range) off of 865.25(Month Low) to 1004.50(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the March Wheat(KCBT) also closed higher in September than August in 29(Cond Years) of those years. Of those 29, KWH went on to exceed the September high within the next 2 months in 26 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the KWH should exceed 1004.50(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 26 years) a potential move toward 1071.08(Average Objective).

December Oats(CBOT)
The OZ2(Mkt) ended Lower(Cond) for September(Month). Compared to August's 395.75(Prev Close), the market ended September at 390.00(Month Close), that being 46%(Pct Range) off of 364.00(Month Low) to 420.00(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Oats(CBOT) also closed lower in September than August in 19(Cond Years) of those years. Of those 19, OZ went on to penetrate the September low within the next 2 months in 17 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the OZ should penetrate 364.00(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 331.09(Average Objective).

December Live Cattle(CME)
The LCZ2(Mkt) ended Lower(Cond) for September(Month). Compared to August's 148.485(Prev Close), the market ended September at 147.050(Month Close), that being 22%(Pct Range) off of 145.580(Month Low) to 152.235(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Live Cattle(CME) also closed lower in September than August in 20(Cond Years) of those years. Of those 20, LCZ went on to penetrate the September 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 LCZ should penetrate 145.580(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 138.997(Average Objective).

November Feeder Cattle(CME)
The FCX2(Mkt) ended Lower(Cond) for September(Month). Compared to August's 184.530(Prev Close), the market ended September at 174.635(Month Close), that being 3%(Pct Range) off of 174.235(Month Low) to 187.830(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the November Feeder Cattle(CME) also closed lower in September than August in 20(Cond Years) of those years. Of those 20, FCX went on to penetrate the September 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 FCX should penetrate 174.235(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 18 years) a potential move toward 167.172(Average Objective).

January Feeder Cattle(CME)
The FCF3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 185.135(Prev Close), the market ended September at 175.680(Month Close), that being 4%(Pct Range) off of 175.150(Month Low) to 188.250(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the January Feeder Cattle(CME) also closed lower in September than August in 19(Cond Years) of those years. Of those 19, FCF went on to penetrate the September low within the next 2 months in 19 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the FCF should penetrate 175.150(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 166.531(Average Objective).

December Lean Hogs(CME)
The HEZ2(Mkt) ended Lower(Cond) for September(Month). Compared to August's 83.880(Prev Close), the market ended September at 76.230(Month Close), that being 7%(Pct Range) off of 75.330(Month Low) to 89.080(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Lean Hogs(CME) also closed lower in September than August in 14(Cond Years) of those years. Of those 14, HEZ went on to penetrate the September low within the next 2 months in 14 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the HEZ should penetrate 75.330(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 68.761(Average Objective).

December Lean Hogs(CME)
The HEZ2(Mkt) ended Lower(Cond) for September(Month). Compared to August's 83.880(Prev Close), the market ended September at 76.230(Month Close), that being 7%(Pct Range) off of 75.330(Month Low) to 89.080(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Lean Hogs(CME) also closed lower in September than August in 14(Cond Years) of those years. Of those 14, HEZ went on to penetrate the September low within the next 2 months in 14 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the HEZ should penetrate 75.330(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 68.761(Average Objective).

February Lean Hogs(CME)
The HEG3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 87.800(Prev Close), the market ended September at 79.430(Month Close), that being 3%(Pct Range) off of 78.980(Month Low) to 92.580(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the February Lean Hogs(CME) also closed lower in September than August in 15(Cond Years) of those years. Of those 15, HEG went on to penetrate the September 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 HEG should penetrate 78.980(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 73.753(Average Objective).

December Cocoa(ICE)
The CCZ2(Mkt) ended Lower(Cond) for September(Month). Compared to August's 2413(Prev Close), the market ended September at 2354(Month Close), that being 68%(Pct Range) off of 2192(Month Low) to 2429(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the December Cocoa(ICE) also closed lower in September than August in 22(Cond Years) of those years. Of those 22, CCZ went on to penetrate the September 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 CCZ should penetrate 2192(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 1990(Average Objective).

March Cocoa(ICE)
The CCH3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 2396(Prev Close), the market ended September at 2340(Month Close), that being 68%(Pct Range) off of 2190(Month Low) to 2409(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the March Cocoa(ICE) also closed lower in September than August in 23(Cond Years) of those years. Of those 23, CCH went on to penetrate the September 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 CCH should penetrate 2190(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 1980(Average Objective).

March Cotton(ICE)
The CTH3(Mkt) ended Lower(Cond) for September(Month). Compared to August's 110.14(Prev Close), the market ended September at 83.45(Month Close), that being 5%(Pct Range) off of 81.96(Month Low) to 110.09(Month High).

In comparing the August/September closes for each of the last 45 years(Total Years), Scenario found that the March Cotton(ICE) also closed lower in September than August in 28(Cond Years) of those years. Of those 28, CTH went on to penetrate the September 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 CTH should penetrate 81.96(Scenario Objective) by no later than the end of November. If it does so, Scenario would further project (based on normalizing those previous 24 years) a potential move toward 77.20(Average Objective).
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