Dec Wheat - 2 to 3 lower
Dec Corn - Steady to 1 Lower
Nov Beans - Steady
November Soybeans marked a low of 1293.25 this morning, 1.25 cents below the given support of 1294.50, then rallied the remainder of the session to a high of 1313, the given resistance level.
1st support - 1310, 2nd - 1305.50, 3rd - 1299, 4th - 1292
1st resistance - 1332, 2nd - 1342, 3rd - 1347, 4th - 1368-1374
December Corn closed near the high of the day at 492.75, 1 tick below the given resistance.
1st support - 491.50, 2nd - 490
1st resistance - 1st resistance - 499, 2nd - 507.50 - same.
December SRW Wheat rallied about 10.75 cents today, marking a high price of 584, 2 ticks below given resistance of 584.50.
1st support - 578, 2nd - 572, 3rd - 567
1st resistance - 593, 2nd - 600, 3rd - 615
December KC Wheat marked it's high today at 678, 3 cents above 1st resistance and 4 cents below the 2nd given resistance.
1st support - 668.50, 2nd - 665
1st resistance - 678.50, 2nd - 686.50-688, 3rd - 699
December Spring Wheat marked its low price on the open last night at 726.75, 1 tick below given support of 727.
1st support - 730.25, 2nd - 724, 3rd 720
1st resistance - 738-741, 2nd - 754, 3rd - 761 - same.
You will see on the 5 minute December S&P chart that price revolved around and between both given support levels. Later in the session, 1st support became resistance.
1st S&P support - 4340.25, 2nd - 4310
1st resistance - 4380, 2nd - 4400, 3rd - 4434, 4th - 4450
A sharp selloff to 80 is not likely as crude oil builds supportive structure between 85.50-88.50. It's most likely to trade another upleg back towards the 95 area. It was a well structured bearish pattern that has time limitation. Time's up.