March Wheat - Steady
March Corn - Steady
March Soymeal - 0.50 Higher
March Beans - 0.50 Lower
March Crude Oil corrected down 87 cents on the day, marking the low 27 cents below the 77.20 support level. The money rolled to the March contract last night, so we have conflicting charts. The continuation marked a lower low, which is negative, and March printed a higher low. I believe the funds follow the continuation - so, negative leaning.
support - 76.80, 75.30
resistance - 78.65, 80.30
March Soybeans continued correcting, and therefore marked it's low 7.50 cents below the 1026.00 support price. The high of the last leg up on this iteration (now that we know the context of correction) was 1015.75. The low (intraday pullback) after the report was released Friday was also 1015.75
support - 1019.00, 1015.50, 1000.00
resistance - 1031.00, 1044.00
March Soymeal was selling the news of the bullish NOPA crush numbers, and marked it's low below old support at 295.00, but managed to close on that price.
support - 294.00, 290.00
resistance - 302.50, 310.00
March Corn marked it's low 1 tick below the 473.50 support level, and traded between 479.00 and 473.25 on the day.
support - 473.25-472.00
resistance - 481.00, 488.00
March SRW Wheat traded below support by 4.25 cents, after selling off almost a dime from the open/evening high.
support - 536.00-534.50, 528.50
resistance - 544.00, 552.00
March HRW Wheat also marked new lows for the move and was down 9.50 cents for the day.
support - 546.00, 543.50
resistance - 555.00, 563.00
March Spring Wheat marked it's low at 581.00, which is 2.25 cents above the previous low from last Friday's report reaction.
support - 578.50-577.00
resistance - 594.00, 598.50
March S&P marked it's low 1.75 bucks above the 5960 support price, in what was a fairly small range, back filling day.
support - 5960, 5915
resistance - 6020, 6070
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