May Cocoa closed over 8000 on Friday, and shows no signs of capitulation yet. May Cotton continues to be supported in the 93.50-92.00 area, from the top of the weekly channel. I still expect another leg higher to 125-130 this spring.
May Crude Oil marked it's low 15 cents above the 80.35 support level, and then it rallied 80 cents.
support - 80.50-80.30
79.55
resistance - 81.60
82.25
May Soybeans marked the low 1 cent above lower support at 1182.50, after selling off 15 cents from 1200.
support - 1191.50
1182.00
resistance - 1202.00
1217.50
May Soymeal marked it's low 4 ticks above the 432.50 support price after selling 6 bucks from 339.60.
support - 332.50
331.00
resistance - 340.00
345.00
May Corn marked it's low 1 tick above 432.50 support, then rallied 8 cents.
support - 434.24
431.50
resistance - 440.00
445.00
May SRW Wheat marked it's low 1.25 cents below the 528.00 support level, after selling off a dime from the highs.
support - 526.25
523.00
resistance - 538.00-540.00
549.00-554.00
May HRW Wheat marked it's low at the 561.00 support point after selling down 16-17 cents.
support - 564.00
561.00
resistance - 578.00
589.00
May Spring Wheat marked it's low 3.50 cents below the 648.50 support level.
support - 644.50
642.00
resistance - 660.00
667.00
June S&P marked it's high 10 points below the 5241 resistance level, and then sold off for 60 points.
support - 5177
5161
resistance - 5208
5240
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