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Tech Guy Opening Calls & Comments 1/8/24

March Wheat - 1 Lower


March Corn - Steady to 1 Higher


March Soymeal - 0.50 Higher


March Beans - 1.50 Lower


February Crude Oil marked it's low almost directly in between the 71.00 & 69.00 support levels.

support - 70.50

69.00

67.50

resistance - 72.00

73.30

74.25


March Soybeans marked it's low 5 cents below the 1241 support level. The trade volume indicates long capitulation in beans, and also in corn - surrender.

support - 1240.00

1214.00

resistance - 1266.00

1281.00

1291.00-1297.00 - gap


March Soymeal marked the low 1.20 points above the 365.00 support.

support - 367.70

365.00

resistance - 373.50

381.20


March Corn marked it's low 1 cent below the 453.00 support price on blow off volume. The March volume was only a few contracts fewer than January 2nd, which was double the previous several weeks average volume.

support - 453.25

446.50

resistance - 462.00

468.50

475.00


March SRW Wheat almost sold off to the last swing low of 591.25 (not stated).

support - 591.00

588.50

582.00

resistance - 612.00

621.50

631.00


March KC Wheat marked the low 5.75 cents below the 615.00 support level.

support - 613.50

609.00

resistance - 622.25

630.00

636.50


March Spring Wheat marked it's low 1.75 cents below stated support of 702.00.

support - 702.00

696.50

667.00

resistance - 711.50

721.50

725.50


March S&P closed on the 4798 resistance point, after marking it's high 5 points above that.

support - 4760

4700

4670

resistance - 4842

4875

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