March Wheat - 1.50 Lower
March Corn - Steady to 1.50 Lower
March Soymeal - Steady
March Beans - 0.50 to 1.50 Lower
March Crude Oil marked it's low price 3 cents above the 72.39 support level, after selling off about 1.70 from the high. The low occurred on heavy volume, so some buying may still happen before the downtrend resumes.
support - 72.30, 71.45
resistance - 73.75, 74.30
March Soybeans marked a range expansion day of about 21 cents low to high, while closing above the 1057.00 resistance price.
support - 1046.00, 1035.00
resistance - 1064.00, 1076.00
March Soymeal also closed above resistance and almost tested the lower section of a big gap to the left.
support - 303.50, 298.00
resistance - 311.30, 315.00
March Corn marked it's close above the 494.50 resistance point, and it's unclear if the breakout will occur now, or if more back and forth motion is in order. The 494.00-496.00 area is decent resistance on the daily chart, so it may need some more work.
support - 493.00 - small breakdown if this doesn't hold, 484.00, 476.00
resistance - 510.00-515.00
March SRW Wheat closed above the 559.00 resistance mark, after rallying 15.50 cents on the day.
support - 547.00, 538.50
resistance - 567.00-569.50 - breakout, 581.00
March HRW Wheat traded about 3 cents above support, then closed up 17.25 for the day.
support - 565.00, 559.00
resistance - 586.00, 594.00
March Spring Wheat closed above the 611.50 resistance mark on what could have been a breakout up day. However, we will need follow through buying to confirm. It could just as easily reverse from the high and correct some before more upside unfolds.
support - 601.00, 596.00
resistance - 618.00, 635.00
March S&P marked it's high about 6 points above the 6105 resistance level, then sold off about 68 points high to low. I am still anticipating 2 or more 100-150 point range days both ways.
support - 6020, 5930
resistance - 6122, 6170
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