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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