Dec Wheat - 0.25 Higher
Dec Corn - 0.25 Higher
Dec Soymeal - Steady
Jan Beans - 2.75 Lower
December Crude Oil marked it's high 18 cents above the 72.70 resistance level, after rallying more than 2 bucks from the low of 70.66.
support - 70.70
69.70
resistance - 72.50
73.00, 74.00
January Soybeans gained 22.75 on the day and closed above the 1025.00 resistance price. This is a breakout higher from the bottom formation and is quite bullish. 1070.00 & 1086.00 are very reasonable 30 day targets.
support - 1018.50
1010.00
resistance - 1040.00
1055.00
December Soymeal marked it's low 1.20 below the 296.20 support level, then rallied about 4.50 bucks from low to high.
support - 297.50
295.00
resistance - 303.00
310.00
December Corn rallied to the 428.00 resistance price in the early morning trade, corrected towards the 422.00 level, then rallied back to 428.50, marking a new high for the day. The close at 428.25 is bullish. 460.00 & 475.00 are reasonable 30 day targets.
support - 425.00-424.00
421.00-420.00
resistance - 434.00
441.00
December SRW Wheat marked it's high 1.50 cents below the 581.00 resistance price, then sold off about 14 cents to the low. If wheat can break up above the 620.00 area, 680.00 & 720.00 should quickly come into play.
support - 567.50
564.00
resistance - 580.00
586.00, 596.00
December HRW Wheat marked it's low 1.50 cents below the 565.00 support level, after selling off about 14 cents.
support - 563.50
560.00
resistance - 578.00
583.50, 594.00
December Spring Wheat marked it's low 2.00 cents below the 600.00 support point, after selling off about 11 cents from high to low. I don't know the timeframe, but if spring wheat can clear 655, 800 is a clean shot on the daily chart.
support - 598.00
594.00
resistance - 612.00
618.00, 624.50
December S&P closed above 6000 for the first time in history.
support - 5955
5890
resistance - 6130
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