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Tech Guy Opening Calls & Comments 12/28/23

March Wheat - 0.75 Higher


March Corn - 0.25 Higher


March Soymeal - 1.0 Higher


March Soybeans - Steady to 2 Higher


February Crude Oil marked it's low 13 cents below the 71.85 support, after selling off about 2 dollars.

support - 71.85

70.90

resistance - 74.00

75.50


March Soybeans marked it's high 1.50 cents above the 1327.50 resistance, then sold off down to .50 cents above support at 1308.50. Hypothetically, if a seller would've sold at the 1326.00 resistance and covered at the 1315.50 support, their profit would be $525/contract. The risk was $75.This is a 7 to 1 reward/risk ratio.

support - 1310.50

1308.00

1302.00

resistance - 1328.00

1341.00


March Soybean Meal marked it's high 1 dollar above resistance of 396.50, then sold off about 6.50 dollars. The low was 1 tick from support at 389.00.

support - 389.00

386.50

resistance - 397.50

402.00


March Corn marked it's low at the 474 support price. Once again, there was heavy volume between 474.00-474.75, confirming the support here.

support - 474.00

471.75

resistance - 479.00

482.50

484.00


March SR Wheat marked it's low 1 tick from the 621.50 support level then rallied about 15 cents.

support - 628.00

621.50

resistance - 636.00

640.00

650.00


March KC Wheat marked it's low 3 ticks from the 632.50 support, then rallied about 12 cents.

support - 641.00

638.00

633.50

resistance - 652.50

663.00

676.00


March Spring Wheat marked it's low at the 718.00 support, then rallied about a dime.

support - 724.00-722.25

718.00

resistance - 729.00

733.00

740.50


March S&P marked it's low 2 points from the 4830 support threshold.

support - 4832

4828

resistance - 4840

4874

4909


The odds favor an up day in the grains and soy for tomorrow, with the wheats looking the strongest.

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