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Tech Guy Opening Calls & Comments 10/11/23

Dec Wheat - 2 to 3 Higher


Dec Corn - Steady to 1 Higher


Nov Beans - Steady


The sellers in the November Soybean pit took out all the sell stops below 1264 (yesterday's 1st support) and then 1259 (2nd support). Similar to wheat yesterday, support was blown through in the morning, then those levels acted as resistance for the 2nd half of the trading session.

For tomorrow:

1st support - 1251.5, 2nd - 1247, 3rd - 1228

1st resistance - 1260, 2nd - 1271, 3rd - 1291.


Check out the support that became resistance during the November Bean session today.


December Corn found the fund buyers 1 cent above the 1st support level of 483.5 today.

For tomorrow:

1st support - 484, 2nd - 475

1st resistance - 490, 2nd - 499, 3rd - 508, 4th - 526.


The low in December SRW Wheat was 2 ticks below the 2nd support level of 551.5 in today's trade session.

For tomorrow:

1st support - 550, 2nd - 544, 3rd - 539

1st resistance - 566.5, 2nd - 584, 3rd - 609.


December KC Wheat marked it's low today at 662.5, in between the 2 support numbers given, 665 and 661. Today's low was also one half cent above the contract low on September 29th.

For tomorrow:

1st support - 661, 2nd - 578

1st resistance - 680, 2nd - 692, 3rd - 721


During today's December Spring Wheat trade, the high (726.75) was marked about 3 cents below resistance and the low (717.5) was 1.5 cents below support.

For tomorrow.

1st support - 718.5, 2nd - 710-707, 3rd - 668

1st resistance - 726-729, 2nd - 737, 3rd - 754.


Tomorrow's trade is likely to be volatile after the report is released at 11 AM CDT.


83.25 should be a good support area for crude - it closed the gap from Sunday night's opening. The target higher is 88-89.


Just heard on Fox news that Lindsay Graham said he thinks Israel should bomb Iran's oil infrastructure.

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