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Tech Guy Opening Calls & Comments 1/30/24

March Wheat - 1.0 Higher


March Corn - 0.75 Lower


March Soymeal - Steady


March Beans - 0.75 Lower


March Crude Oil marked it's low 15 cents below the 76.00

support level, then rallied over 2 bucks.

support - 75.85

75.25

resistance - 78.15

79.30-79.70


March Soybeans marked it's low in between the 2 support levels, and then rallied 30 plus cents past the 2nd resistance at 1218.00.

support - 1218.00-1215.00

1206.50

resistance/targets - 1231.00

1248.50-1252.00


March Soybean Meal marked it's low above support and rallied almost 10 bucks.

support - 359.00

356.00

resistance - 367.00

374.00


March Corn traded a key reversal daily bar today - by marking a lower low and closing above yesterday's high. These 1 day patterns are generally very reliable at signaling a trend change - in this case from down to up. See the March Corn Daily bar chart below, illustrating the reversal.


March Corn marked it's low 1 tick above the 436.25 support, then it rallied almost 12 cents from there.

support - 444.50-444.00

442.00

resistance - 453.00

460.00


March SRW Wheat marked it's low 2.00 cents below the 586.50 support level and then rallied about 20 cents.

support - 602.00

598.50

resistance - 614.00-617.50

623.50


March KC Wheat marked it's low 2 cents above the 610.00 support, then rallied 20 cents.

support - 627.00-625.00

619.50

resistance - 638.00-641.00

648.00


March Spring Wheat marked it's low 1 cent below the 691 support level, then it rallied about 11 cents.

support - 695.50

690.00

resistance - 705.00

711.50

721.00


March S&P traded in a narrow range, with the lows staying between the 2 given support levels and the highs near yesterday's high prices. Sorry for the typos yesterday (3).

support - 4940

4936

resistance - 4958

4995




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