February Crude Oil marked it's Friday high price just 15 cents below resistance, then proceeded to sell off about $2.50.
support - 72.50
71.75
resistance - 74.75
75.30
76.25
March Soybeans had a blowout to the downside, taking out the 1214 support, but closed well above it.
support - 1210.00
1203.00
resistance - 1235.00
1247.00
1266.50
March Soymeal tested a weekly uptrend line, then mounted a strong reversal up.
support - 359.00
353.00
resistance - 365.00
369.00
375.50
March Corn marked it's low 1.50 cents above the 439.50 lower support and then reversed higher. The trade volume was about 35% higher than the previous 2 contract records that I have talked about recently. The open interest increased 42,666 on Friday's trade session. Don't think I have ever seen such an increase in 1 DAY - 1 week yes.
support - 444.75
441.00
resistance - 455.00
460.50
469.00
March SRW Wheat sold off to 4 cents below the 591 support level, then reversed higher to close at 597.00.
support - 592.00
587.00
resistance - 607.00
612.00
618.00
March KC Wheat marked it's low 1.50 cents below support.
support - 614.00
610.50
resistance - 622.50
630.00
636.00
March Spring Wheat marked it's low 3 cents below support.
support - 697.50
693.00
resistance - 706.00
713.00-714.00
March S&P marked it's high within the first resistance range of 4834-4838.
support - 4802
4791
resistance - 4836
4875
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