Sep Wheat - 0.25 Higher
Dec Corn - Steady 850 bid/185 offer
Dec Soymeal - Steady
Nov Beans - 0.50 Higher 90 bid/147 offer
October Crude Oil marked it's low overnight just 4 cents shy of the 72.50 support level, after selling off 1.25 from last night.
support - 73.00
72.30
resistance - 74.40
75.70
November Soybeans broke higher after marking the low 1.00 cent above the 969.00 support price. The move up was 15 cents low to high. By marking a higher high yesterday, beans created up pressure on the charts, meaning further upside is likely.
support - 975.50
971.50
resistance - 990.00
1000.00
December Soymeal marked it's high 4 ticks from the 314.00 resistance level, after rallying 5.50 bucks.
support - 307.50
304.50
resistance - 315.00
321.00
December Corn marked it's low 1 tick above the 397.50 support level, after trading in a small 3 cent range. Corn is responding well to the bottom formation I mentioned on the weekend comments.
support - 397.50
395.00
resistance - 404.00
409.50
September SRW Wheat marked it's low 1.25 cents below the 527.00 support price, then rallied about a dime, closing within 1 tick of the 534.00 resistance level.
support - 530.00
526.25
resistance - 544.00
550.00
September HRW Wheat marked it's low directly at the 538.00 support level, then rallied a dime.
support - 543.00
537.50
resistance - 551.00
558.50
September Spring Wheat opened, then marked the low 1 tick above the 582.00 support price, then rallied to within 2 ticks of the 595.50 resistance level. Spring wheat has traded sideways for 3 weeks now and is poised for a run up.
support - 587.00
582.00
resistance - 596.00 - breakout
601.00, 613.00
Sep S&P traded a narrow range day as it continued to work towards the 5721 high marked on July 16th. However, a short term pullback is overdue.
support - 5593
5530
resistance - 5671
5721
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