March Wheat - 2.00 Higher
March Corn - 0.25 Lower
March Soymeal - Steady
March Beans - 0.50 Higher
Sorry about the earlier technical difficulty.
March Crude Oil marked it's low 9 cents below support of 73.65 early in the trading session, then rallied to within 50 cents of the 77.00 target. Because crude broke higher, the 1st 2 targets for tomorrow will not necessarily stop or reverse this market. Stiffer resistance lies above 79.30.
support - 75.68
75.10
targets - 77.00
78.15
79.30
80.20
March Soybeans marked it's low 1.50 cents Above the 1179.00 support level after selling off 24.50 cents from the 1205 resistance.
support - 1190.00-1188.00
1181.00
resistance - 1205.00
1223.00
1230.50
1247.00
March Soymeal marked it's low 2.50 below the 346.0 support after selling off 11 bucks from the session high.
support - 345.60-345.10
343.00
resistance - 354.70-356.50
362.50
365.50
March Corn marked it's low 2.25 cents below the 432.00 support after selling off 7 cents from the high.
support - 431.50
429.00
resistance - 437.00
439.50
445.50
March SRW Wheat marked it's low 1 tick below the 584.00 support price after selling off 22 cents from the high.
support - 587.75-586.50
583.50
resistance - 597.00
606.50
611.50-613.00
March HRW Wheat sold off below all support today. I missed/ignored the down pressure on yesterday's chart.
support - 595.00
586.50
resistance - 610.75
620.50
626.00
March Spring Wheat sold off to test the January 18th low of 680, after falling through the 690 level.
support - 681.50
678.50
resistance - 689.00
698.00
707.00
March S&P trade in a very narrow range today, staying above support and below resistance. I expect a breakout tomorrow, probably higher, 70/30%. If the S&P breaks lower, it will probably be starting a longer term correction.
support - 5003
4997
4987
targets - 5020 - this will be the breakout higher point.
5075
5125