March Wheat - 1.25 Lower
March Corn - Steady
March Soymeal - 0.40 Lower
March Beans - Steady to 1.50 Lower
February Crude Oil marked it's low 14 cents above the 72.70 support level, then rallied about 1.40 bucks and closed just a few cents from the high at 74.29.
support - 73.85, 72.80
resistance - 75.30, 76.30
March Soybeans marked the low 1 tick below the lower 986.00 support price, then recovered nicely, rallying 14 cents, almost testing yesterday's high.
support - 990.50, 985.50
resistance - 1001.00 - breakout, 1010.00, 1015.00
March Soymeal was a laggard to beans, closing within a few ticks of the low for the day, in between the 2 support levels.
support - 298.00-297.00
resistance - 315.00, 322.00
March Corn marked it's low within 1 tick of both levels of the support range, then rallied about 4 cents to the high. Since last Friday's low in the 449-450 area, corn has held higher support at 453-454 level, testing it 3 days in a row with bounces higher. While there's no guarantee going into the year end report tomorrow, both corn and beans are tilting bullish, technically.
support - 435.50, 449.00
resistance - 460.00 - breakout, 475.00
March SRW Wheat marked it's low 2.00 cents below the 531.25 support price, after selling off about a dime high to low. Wheat will most likely follow the corn/bean reaction tomorrow.
support - 529.00-527.00, 520.00 - not expecting, but report can be wild.
resistance - 540.00, 545.00
March HRW Wheat marked a lower low, while closing on the 548.00 support number.
support - 544.00, 540.00
resistance - 560.00-563.00
March Spring Wheat marked it's low 1.25 cents below the 581.50 support level, then closed 1 tick above the 583.25 number.
support -
resistance - 581.00, 577.00
resistance - 589.00, 598.00
The equites markets were closed today and the S&P traded in a narrow sideways fashion overnight.
support - 5929, 5915
resistance - 5075, 6046
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