Dec Wheat - 0.75 Lower
Dec Corn - 0.25 Lower
Dec Soymeal - 0.60 Lower
Nov Beans - 1.00 Lower
November Crude Oil traded down to a good test of yesterday's low at 69.71, where the buyers defended the mark with an emphatic spike down and back up. A rally towards the 75 area should happen now. However, if the traders sell the 72 area too hard, that may be it.
support - 70.20
69.50
resistance - 71.31
72.10
November Soybeans marked the low 1.75 cents below the 980.00 support level, after a nice 20 cent rally from yesterdays lows, then straight back down.
support - 977.00
972.00
resistance - 1002.00
1011.00
December Soymeal traded above the upper 310.30 support price all session. This is a good sign for an argument that the down correction could be over. Back to beans - It's not ever wise to try and call a bottom, but be alert if the sellers dry up tonight.
support - 311.60
308.70
resistance - 316.00 - breakout
319.50
December Corn marked it's high 1 tick shy of the 407.00 resistance level - if the upper support range holds tonight and tomorrow, more buying will ensue.
support - 403.75-403.00
400.00
resistance - 407.00 - breakout
415.00
December SRW Wheat gapped up from the overnight lows on this morning's pit open, never looked back and rallied 4.75 on the day, responding to the parallel support line.
support - 581.50
575.00
resistance - 588.00 - breakout
600.00
December HRW Wheat traded almost identical price action to soft wheat today, closing up 5.00 cents.
support - 585.50
580.00
resistance - 592.00 - breakout
605.00
Yesterday's low was tested in December Spring Wheat to the tick - 616.00, and then it managed a 4.50 cent gain for the day.
support - 616.00
603.00
resistance - 627.00
644.00
After what amounted to a 67 point correction yesterday in the December S&P, today's rally sent price about 37 points higher on the day. Right now, after hours is trading about 32 points below Monday's high of 5915.50.
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