March Wheat - Steady
March Corn - Steady to 1 Lower
Jan Beans - 1 Lower
January Crude Oil marked the low 23 cents below the stated support of 75.90 and then rallied about 2 bucks.
support - 77.00-76.75
74.00
resistance - 79.80
81.50
84.50
January Soybeans marked it's low 2 cents below the 1339 support, and rallied about 11 cents.
support - 1343.00
1337.00
resistance - 1363.00
1375.00
1391.00
March Corn marked it's low on the lower support of 470.50, then rallied 6.50 cents on it's way to first resistance at 477.00. The high print was 477.25.
support - 475.00
473.00
resistance - 484.00
490.50
493.00
497.00
March SR Wheat never tested support and rallied to within 1 cent of the 2nd target of 588.50 - about 14 cents low to high.
support - 583.50
579.50
571.50-570.00
resistance - 583.00
600.00
609.00
621.00
March KC Wheat also traded above support and rallied past 2 resistance marks for a range of about 20 cents.
support - 630.50
624.00
621.50
targets - 642.00
648.00
660.00
March Spring Wheat marked it's low last night 1.15 cents above support of 710.00, then rallied past resistance for about 18 cents. The wheats all trading above resistance is a sign of strength.
support - 722.25
720.00-718.50
714.50
targets - 740.00
748.50
755.00
December S&P marked the high in between the given resistance levels and made the low 4.5 points below first support. The probability of a deeper correction is higher over the next few days. Current price is at a fulcrum on the chart.
support - 4542
4489
4413
resistance - 4615
4635
4741-4808
Here's the 8 hour Chicago Wheat chart for those interested:
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