For Bloomberg access:{OIAR<GO>}

Soybeans:

March soybeans advanced 5.25 cents on volume of 208,145 contracts. Total open interest increased by 11,981 contracts, which relative to volume is approximately 140% above average. The January contract accounted for loss of 158 of open interest. As this report is being compiled on January 15, March soybeans are trading 17.75 cents lower and have taken out yesterday’s low of 9.92 3/4.

Soybean meal:

March soybean meal advanced $1.90 on volume of 101,691 contracts. Total open interest increased by 3,275 contracts, which relative to volume is approximately 20% above average. The January contract lost 164 of open interest, March 2015 -1,468. As this report is being compiled on January 15, March soybean meal is trading $9.00 lower and has taken out yesterday’s low of 329.00. Yesterday, the March contract did not generate an intermediate term sell signal because the daily high was 336.40, which was exactly at the pivot point Maintain bearish positions.

Soybean oil:

March soybean oil advanced 20 points on volume of 92,243 contracts. Total open interest increased by 2,873 contracts, which relative to volume is approximately 20% above average. The May 2015 contract lost 270 of open interest. As this report is being compiled on January 15, March soybean oil is trading 17 points higher and has made a daily high of 33.46. March soybean oil remains on a short and intermediate term buy signal.

Corn: On January 14, March corn generated a short-term sell signal, but remains on an intermediate term buy signal.

March corn lost 4.75 cents on volume of 437,227 contracts. Total open interest increased by 8,621 contracts, which relative to volume is approximately 20% below average. The March 2015 contract lost 7,450 of open interest. March corn remains on a short term sell signal, but an intermediate term buy signal.

Chicago wheat: On January 14, March Chicago wheat generated an intermediate term sell signal after generating a short-term sell signal on January 2.

March Chicago wheat lost 10.25 cents on volume of 111,757 contracts. Total open interest increased by 1,751 contracts, which relative to volume is approximately 35% below average. The July contract lost 673 of open interest, September 2015 -58.We have no recommendation.

Kansas City wheat: On January 14,  March Kansas City wheat generated an intermediate term sell signal after generating a short term sell signal on January 2. 

WTI crude oil:

February WTI crude oil advanced $2.59 on heavy volume of 1,149,528 contracts. Total open interest declined by 9,057 contracts, which relative to volume is approximately 60% below average. The February contract accounted for loss of 61,202 of open interest. As this report is being compiled on January 15, February WTI is trading 90 cents lower and has made a daily high of 51.27.Stand aside.

Natural gas:

February natural gas advanced 29.0 cents on heavy volume of 687,062 contracts. Total open interest increased by 19,859 contracts, which relative to volume is average. The February contract accounted for loss of 16,665 of open interest. As this report is being compiled on January 15, February natural gas trading 4.8 cents lower and has made a daily high of 3.352, which is only slightly above yesterday’s high of 3.337. February natural gas remains on a short and intermediate term sell signal.

Gold:

February gold advanced 10 cents on volume of 228,954 contracts. Total open interest increased by 974 contracts, which relative to volume is approximately 80% below average. As this report is being compiled on January 15, February gold is trading $28.20 higher.Today’s action is extremely positive and we expect higher prices ahead. On December 11, February gold generated a short-term buy signal and in intermediate term buy signal on January 13.

Cocoa:

March cocoa advanced 1.00 on volume of 22,459 contracts. Total open interest increased by 2288 contracts, which relative to volume is approximately 300% above average. As we’ve said in prior reports, we will not join the bullish bandwagon until such time as March cocoa makes a daily low above OIA’s key pivot point for January 15 of 2991.

Coffee:

March coffee advanced 2.90 cents on volume of 31,288 contracts. Total open interest declined by 782 contracts, which relative to volume is approximately average. The March contract accounted for loss of 1,487 of open interest. The decline of open interest is a disappointment and as this report is being compiled on January 15, March coffee is trading 4.15 cents lower on the day. March coffee remains on a short-term buy signal, but an intermediate term sell signal.In order for the rally to resume, the low the day must be above OIA’s key pivot point for January 15 of 1.7800. The short-term buy signal will reverse if the high of the day is below OIA’s key pivot point of 1.7250.