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Tech Guy Opening Calls & Comments 3/12/24

May Wheat - 1.50 Higher


May Corn - Steady to Mixed


May Soymeal - 0.20 to 0.50 Higher


May Beans - 2.25 Lower


April Crude Oil marked it's low 9 cents above the 77.25 support and printed the high 2 cents below the 78.75 resistance level, for a move of about $1.50.

support - 76.75

76.50

resistance - 78.90

80.00


May Soybeans marked the low 3 ticks above the 1175.00 support, then rallied 20 cents closing above the 1192.50 breakout price.

support - 1192.00

1189.00

1173.00

resistance - 1213.00

1234.00

1253.00


May Soymeal marked it's low 80 cents below the 336.00 support and stayed below resistance.

support - 335.00

330.50

resistance - 344.00

352.50


May Corn marked it's low 2 ticks above the 437.50 support level, then rallied 7 cents to the high of 445.00. The steady stair stepping action of higher highs and lows is reassuring for the bulls.

support - 439.50

433.50

resistance - 445.00-448.00

459.00-463.00


May SRW Wheat marked it's low 1.25 cents below the 542.50 support level, then rallied 14 cents. It closed very near the breakout point of 551.00.

support - 546.00

541.50

resistance - 556.00

569.00


May HRW Wheat marked it's low 3 cents below the support range, then rallied 15 cents.

support - 594.00

590.00

resistance - 611.00

626.00


May Spring Wheat rallied today, taking out the 675.00 breakout level, but closing below it. As long as the higher highs and lows continue, spring wheat is taking care of business.

support - 666.00

661.50

resistance - 681.00

693.00


June S&P marked it's low 3 points above the 5173 support level, the rallied over 60 points to within 9 points of the 5255 target.

support - 5229

5205

resistance - 5255

5296



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