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Tech Guy Opening Calls & Comments 1/25/24

March Wheat - 4.75 Lower


March Corn - 0.75 Lower


March Soymeal - Steady


March Beans - 1.50 Lower


March Crude Oil was too strong to test support today and it blew through the 1st upside target of 75.50, ending up 2 bucks on the session. Early this morning, crude corrected down to 75.57 (old resistance area), and then rallied to 77.51.

support - 76.20

75.50

resistance - 77.50

79.75


March Soybeans corrected past support by a dime today. However, a 15 cent sell stop below the 1226 support would have worked fine.

support - 1220

1209.50

resistance - 1247.50

1265.00

1281.00


March Soymeal marked it's low 3 bucks below support.

support - 356.50

355.00

351.50

resistance - 366.50

374.00


March Corn marked it's low 1 cent below the 448.50 support, then rebounded back to 451-452 on the close.

support - 449.25

447.50

resistance - 453.00

460.00

468.00


March SRW Wheat marked it's high 2.25 cents above the 615.00 resistance, then it sold off to the 606.50 support level.

support - 609.50

606.00

603.75

resistance - 617.00

622.50

631.00-636.00


March KC Wheat was too strong to slump down to support today. It rallied just above the 636.50 target, to 637.00, up 11.25 on the day.

support - 634.00

624.50

resistance - 638.00

649.00

663.00


March Spring Wheat marked it's low 1.50 cents below the first support level of 702.00 then rallied a dime. Follow through buying tonight will confirm an upside breakout on the daily.

support - 704.00

701.00

resistance - 714.00

721.50

732.00


March S&P remained to strong to test the 4890 support level, and the high was marked in between the 2 upside targets, 7 points below the 4933 resistance.

support - 4896

4889

resistance - 4933

4975

5000

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