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Tech Guy Opening Calls & Comments 10/31/24

Dec Wheat - 1.75 Higher


Dec Corn - Steady


Dec Soymeal - 0.10 Higher


Jan Beans - Steady


December Crude Oil marked it's low 15 cents from the 68.15 support level, then rallied past 70.00, as expected, for a gain of 1.89 on the day. 70.00 is first support level and an up move towards 72.00, then 73.00 is probable.

support - 70.00

69.10

resistance - 72.00

73.00


January Soybeans marked the low 1.25 cents above the 987.00 support price, then rallied more than 11 cents low to high, closing above the 995.50 resistance price. This is constructive.

support - 993.25

988.00

resistance - 1013.00

1024.00


December Soymeal continued acting weak, and marked it's low 90 cents above the 298.00 support level, after selling off 4 bucks high to low.

support - 299.00-298.00

295.00

resistance - 303.00-304.00

307.00


December Corn marked it's low 1.00 cent above the 408.25 support level, then traded in a small 3.25 cent range.

support - 410.00

408.00

resistance - 413.00

415.00, 417.50


December SRW Wheat marked it's low 2 ticks beneath the 564.00 support price, then rallied 8.50-9.00 cents twice.

support - 568.00

564.00

resistance - 573.50 - breakout

581.00, 586.00


December HRW Wheat marked it's low 1.75 cents below the 565.50 support level, then rallied about 6.50 cents into the close.

support - 567.00

563.50

resistance - 575.00 - breakout

584.00


December Spring Wheat marked it's low 2.25 cents below the 600.00 support price, after selling off 11.00 cents high to low.

support - 600.00

594.00

resistance - 610.00

618.00, 624.00


December S&P (NQ & DOW) all sold hard today, and the S&P was down over 110 bucks on the day. This could be short term or something longer term looming, depending on political results. We don't know yet. Volatility is expected through next Tuesday. Support for the Dec DOW is from 41685 to 41580.

support - 5724

5670

resistance - 5771

5822

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