May Wheat - 1.00 Higher
May Corn - 0.75 Lower to 2.25 Higher
May Soymeal - 0.50 Higher
May Beans - Steady to 1.25 Higher
April Crude Oil marked it's low at the 66.00 stated support level, then rallied past the 2nd resistance price of 67.60 by 19 cents, for a net gain at the time of this writing of 1.35 on the day.
support - 66.15, 65.30
resistance - 68.20, 68.60
May Soybeans marked the low 1.50 cents below the 995.50 support price, after selling off about 20.00 cents from high to low.
support - 997.00, 994.00, 985.50
resistance - 1010.00, 1022.00
May Corn marked it's low almost 5.00 cents beyond the 461.00 support level, then closed within a tick or 2 of that same support price.
support - 458.00, 453.00
resistance - 477.00, 484.00
May SRW Wheat marked it's high 2 ticks below the 562.00 resistance level, then sold off about 15.00 cents to below support.
support - 551.00, 544.50
resistance - 561.50-563.00, 566.50-570.00
May HRW Wheat traded within 2 ticks of completely closing the 565.00 gap, by selling off about 11.00 cents high to low.
support - 570.00, 565.50
resistance - 583.50, 591.00
May Spring Wheat marked it's low 2.25 cents above the 584.50 support price, after selling off almost 9.00 cents from high to low.
support - 591.00, 587.50
resistance - 600.50, 606.00, 610.00
The canola market is unlike any other market in that Canada and the EU produce about half of the world's canola. Canada exports most of its canola or canola oil while the EU exports very little. China is the world's third largest producer of canola, uses all of it and imports canola primarily from Canada if politics do not get in the way.
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