May Wheat - 0.75 Lower
May Corn - Steady
May Soymeal - Steady to 0.10 Lower
May Beans - 0.25 Higher to 0.25 Lower
April Crude Oil marked it's low 6 ticks beneath the 65.65 support level, after selling off almost 1.50.
support - 65.45, 63.60
resistance - 67.10, 68.15
May Soybeans marked the high 5.50 cents above the 1031.00 resistance price, after rallying about 22.00 cents from last night's low/open to high.
support - 1022.50, 1014.00
resistance - 1045.00, 1061.00
May Corn marked it's high 3.50 cents above the 470.00 resistance point, after rallying about 21.00 cents from the morning low to high.
support - 462.50-461.00, 452.50
resistance - 474.00, 484.00, 620.00 - Inverted Head & Shoulders target on the daily chart - will post that chart over the weekend.
May SRW Wheat marked it's high 2.00 cents below the 564.00 resistance level, after rallying about 17.00 cents low to high.
support - 552.00, 544.50
resistance - 564.00, 571.50
May HRW Wheat closed 3 ticks above the 564.00 breakout point, after rallying 7.75 cents for the trading session.
support - 564.00, 554.50
resistance - 578.50, 591.00
May Spring Wheat fell short of the 601.50 resistance price by 3.50 cents while achieving a net gain of 6.00 cents on the day.
support - 592.50, 585.50
resistance - 602.00, 610.00
Some interesting facts:
The job of the market is to make sure we never run out of any food or fiber commodity. The market does that with higher prices to ration demand in times of small supplies.
The WASDE monthly projections change as weather, world political situations, and currency exchange rates change. The numbers are often wrong, but no other source is considered more accurate.
Additionally: For pertinent news and fundamental grain market information, sign-up for a 30 day, no cost, no obligation, no phone call subscription to Wright on the Market news sent to your email every day before you get out of bed. Click on "subscribe" at: https://www.wrightonthemarket.com/
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