March Wheat - Steady to 2.00 Lower
March Corn - 0.25 Higher to 1.50 Lower
Jan Soymeal - 0.80 Higher to 0.10 Lower
Jan Beans - 0.25 Higher to 1.75 Lower
February Crude Oil marked it's high 4 cents above the 70.50 resistance level on the continuation chart, then sold off about 1.75 from high to low. Look for consolidation near term.
support - 69.35-69.20
resistance - 70.10, 70.55
January Soybeans capitulated to the downside and washed out the last weak longs, then closed 3 ticks below the lower support number.
support - 974.00-973.00
resistance - 985.00, 993.50
January Soymeal marked it's low 2 ticks above the 284.00 support price, then rallied about 4.50 bucks.
support - 285.50
resistance - 291.50, 294.00
March Corn marked it's low 1 penny below the 442.25 support level, after selling off about 5.50 cents from the overnight high. Corn is coiling up before the next leg higher.
support - 442.00, 440.00
resistance - 448.00, 451.50
March SRW Wheat marked it's low 3.00 cents below the 545.50 support price, after selling down almost a dime from the early morning high.
support - 540.00 - next support
resistance - 553.00, 560.00
March HRW Wheat sold down below the 555.00 support in the first hour of pit trading, then later in the trading session, the 555 number became intraday resistance.
support - 549.25, 545.00
resistance - 555.50, 562.00
March Spring Wheat marked it's low 1.75 cents below the 596.00 support point, after selling off about 7.50 cents from the early morning high. Apologize for yesterday's support number typo.
support - 592.50, 586.00 - bottom of range
resistance - 601.50, 606.00
March S&P traded down to within 2.50 Dollars of filling the December-March continuation gap on the charts, where it appears to have found buying support. We are currently trading within 3.50 bucks of yesterday's lower support number of 6130.
support - 6120, 6111
resistance - 6143, 6163
A Note on these numbers, in general - in the most fundamental sense, the numbers are places on the chart where inflection points and balanced price happens - areas where the supply/demand balances most evenly.
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