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Tech Guy Opening Calls & Comments for 9/6/22

Dec Wheat - Steady

Dec Corn - Steady to 1 Lower

Nov Beans - Steady to 1 Higher

I am figuring all the grains will be in a rangebound/sideways channel for the balance of the week in anticipation of the USDA report next Monday, Sep 12th.

Dec Corn found buying support today, rallying from a low of $6.61.50 to $6.76 - very near the high for the day. We could see it trade as high as $6.87 and as low as $6.53 during the week as funds even their positions up and place their bets.

Nov Beans sold off back to the bottom of it's triangle to $13.92 today. The Beans should stay in a range between $13.85 - $14.42 from now until Friday.

Dec SRW Wheat traded between $8.25 on the high side and $8.01.25 on the low side today. I could see the Wheat trading in a range between $8.49 and $7.90 during the week.

Since the low of $7.25.75 on Aug 18th, Dec Wheat has marked 2 up legs with 2 corrective legs in between. The next most likely move over the next 2 weeks would be up to $8.78, or as high as $9.33 - for a 3rd leg up or a 5 wave total up -1-2-3-4-5.

The $86 area continues to be good support in Oct Crude Oil, on the .

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