Dec Wheat - Steady to 1 Higher
Dec Corn - Steady
Nov Beans - 1 Lower
November Soybeans marked an inside/narrow range day today. Therefore, tomorrow is likely going to be a range expansion day/breakout, probably up. Today's low of 1279.5 was half a cent from 1st support at 1279.
1st support - 1283, 2nd - 1273 - unlikely
1st resistance - 1300, 2nd - 1312, 3rd - 1316, 4th - 1330
The December Corn low of 489.5 was a half cent from the posted 1st support of 490 today.
1st support - 487, 2nd 482 - unlikely
1st resistance - 497, 2nd - 507.5
December SRW Wheat's low of 575.25 today fell 3 ticks above 1st support at 574.5 and Wheat's high print of 588.5 was 2 cents above the stated resistance of 586.5.
1st support - 575, 2nd - 570, 3rd - 556 - unlikely
1st resistance - 590, 2nd - 602, 3rd - 616
December KC Wheat marked it's low today at the stated 2nd support level of 662.5.
1st support - 667.5, 2nd - 661, 3rd - 654
1st resistance - 675, 2nd - 682, 3rd - 692, 4th - 723
December Spring Wheat's low price today of 721 was a half cent above the 1st support level stated.
1st support - 726, 2nd - 721
1st resistance - 733, 2nd - 738, 3rd - 754
November Crude Oil has some support at 86.30 and 85.20, but it's not strong. If those levels fail, which is likely, crude should sell off sharply to 80.00, then rally straight back up to 88.50-89.00.
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