March Wheat - Steady
March Corn - 0.50 Higher to 1.00 Lower
March Soymeal - 0.20 Higher to 0.30 Lower
March Beans - 0.50 Higher to 1.25 Lower
February Crude Oil rallied about 1.25 marking it's high 6 cents above the 71.50 resistance level, then selling off almost 75 cents to a 1:00 PM swing low of 70.78.
support - 70.75, 70.20
resistance - 71.55, 73.00
March Soybeans marked the high 2.50 cents below the 1007.00 resistance price, then sold off about 18 cents to the session low which was above support.
support - 985.50-984.00, 976.50
resistance - 1005.00, 1008.50
March Soymeal marked it's high near resistance at 317.50, then sold off about 7.50 bucks, yet still had a net gain for the day.
support - 310.00. 306.50
resistance - 318.00, 324.00
March Corn marked it's low 1.75 cents below the 451.50 support level, after selling off almost 9 cents from the high on profit taking.
support - 452.00, 449.00
resistance - 461.00, 475.00
March SRW Wheat marked it's high 1 tick from the 555.00 resistance price, then sold off about a dime to within 2 ticks of the 544.00 support point.
support - 546.50, 544.00
resistance - 555.00, 560.00
March HRW Wheat traded in an 11.50 cent range, selling off about 12 cents from resistance to the lows, yet netted a gain on the day.
support - 554.00, 549.50
resistance - 563.50-566.00, 572.00
March Spring Wheat traded in a 9 cent range, selling off from the highs and losing 1.50 cents on the session.
support - 591.50-588.00, 583.00
resistance - 602.00, 611.50
March S&P had a huge correction today, selling off 73 bucks as of this report. I wasn't certain that the S&P needed to test the lows from 2 Friday's ago, but the trade today is tilting that way. It is fairly normal for stocks to play around with wild swings during the holidays. I had stated it wouldn't be a long term correction as in weeks to months. Instead, days to 2-3 weeks is most likely. Tomorrow will almost be 2 weeks.
support - 5866 - 12/20 low, 5810 if panic is induced again.
resistance - 6015-6040
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