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
Comments