March Wheat - Steady to 1.25 Higher
March Corn - Steady to 1.00 Lower
March Soymeal - 0.70 Higher
March Beans - Steady to 1.50 Lower
February Crude Oil blew past the 73.00 resistance level and was up another 1.38 today. Old resistance becomes support when a market rallies.
support - 73.00, 72.00
resistance - 74.30, 74.75
March Beans marked the high 1.75 cents above the 1014.00 resistance bracket on what was another strong day.
support - 1008.00, 1003.50
resistance - 1024.00, 1044.00
March Soymeal marked it's high 1.60 below the 323.00 resistance price, and closed 3 ticks above the 319.00 resistance point.
support - 317.50, 312.50
resistance - 335.00, 349.00
March Corn continued inching higher, and closed within 1.50 cents of the 461.00 price that it's trying to clear. The low was printed near the open 1 tick above the 456.00 support level.
support - 458.00, 456.00
resistance - 461.00, 475.00
March SRW Wheat traded in a corrective selloff, and closed 2 ticks below the 546.00 support price. Corn's strength in the face of a 6.00 cent backfill in wheat gives us an idea of the sturdiness of the up trend unfolding in corn.
support - 544.25, 542.00
resistance - 553.00-554.75, 566.00
March HRW Wheat marked it's low 1.00 cent below the 551.50 support price, after selling off/correcting close to 9 cents from high to low.
support - 550.50, 547.00
resistance - 555.00, 562.50
March Spring Wheat marked it's low 1.50 cents below the 590.00 support level, while losing 6.25 cents on the day.
support - 588.00-586.50, 582.50
resistance - 598.00, 602.50, 609.00
March S&P marked it's low 9 bucks above the old low and support of 5866, after selling off about 115 bucks from high to low.
support - 5895, 5866
resistance - 5960, 6000
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