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Tech Guy Opening Calls & Comments 2/26/24

March Wheat - 2 Lower


May Corn - 0.50 Lower


March Soymeal - 0.80 Higher


May Beans - 3 to 4 Lower


April Crude Oil marked it's low in the middle of the 70 cent stated range for support, and then it rallied 2 bucks.

support - 77.35

76.80

resistance - 79.00

79.60

82.20


May Soybeans marked it's low 3.50 cents above support and rallied a dime.

support - 1140.00

1131.00

resistance - 1151.50

1172.00


March Soymeal marked it's low dead on at the 328.00 support. Then, it rallied $6.50 from there.

support - 332.20

330.00

resistance - 335.80 - above this an upside breakout.

339.00

344.00


May Corn appears to have marked a climax low on high volume and aggressive buying. The low was marked 2 ticks below 409.25 support, then corn rallied 12.50 cents.

support - 417.00-415.75

411.25

resistance - 428.50

434.00


March SRW Wheat marked it's low about 4 cents below support, then rallied 15 cents.

support - 570.25

561.50

resistance - 580.00

592.50

600.00


March HRW Wheat marked it's low 1.50 cents below support, then rallied 21.50 cents.

support - 580.00-579.00

573.00

resistance - 594.50

610.00


March Spring Wheat marked it's low 1.50 cents above support, then rallied about 14 cents.

May support - 649.00

645.00

637.00

May resistance - 661.50

675.50


March S&P marked the low 1 tick below the 5078 stated support as of this writing (pit session close).

support - 5059

5050

resistance - 5109

5124


Cocoa met it's upside measuring gap objective in the March and May contracts today with that "1 push higher." It is more likely that a correction will start from here. The correction target is 5275 in the May.

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