S&P 500
1994.99
-26.26 -1.32%
Dow Indu
17164.95
-251.90 -1.47%
Nasdaq
4632.33
-51.08 -1.10%
Crude Oil
48.24
+3.23 +6.75%
Gold
1283.660
+24.205 +1.89%
Euro
1.12780
+0.00005 0.00%
US Dollar
94.857
+0.174 +0.22%
Strong

Market Commentary

Currencies | Energy | Food | Grains | Indexes | Interest | Livestock | Metals

INO.com’s Daily Market Analysis

It’s free, informative, and will help you prepare and plan for the next trading day, while getting a jump on changing market conditions.

Privacy Policy

GRAINS

March Corn closed down 1 1/2-cents at 3.70.

March corn closed lower on Friday as it extends the decline off December's high. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower are possible near-term. If March extends this month's decline, the 62% retracement level of the October-December-rally crossing at 3.63 1/2 is the next downside target. Closes above the 20-day moving average crossing at 3.88 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.88. Second resistance is the reaction high crossing at 4.07. First support is the 62% retracement level of the October-December-rally crossing at 3.63 1/2. Second support is the 75% retracement level of the October-December-rally crossing at 3.52.

March wheat closed down 5-cents at 5.02 3/4.

March wheat closed lower on Friday as it extends this winter's decline. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, September's low crossing at 4.80 is the next downside target. Closes above the 20-day moving average crossing at 5.43 1/2 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 5.22 1/2. Second resistance is the 20-day moving average crossing at 5.43 1/2. First support is today's low crossing at 4.97. Second support is September's low crossing at 4.80.

March Kansas City Wheat closed down 3 3/4-cents at 5.40 1/4

March Kansas City wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, monthly support crossing at 5.23 1/4 is the next downside target. Closes above the 20-day moving average crossing at 5.80 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 5.58. Second resistance is the 20-day moving average crossing at 5.80. First support is Wednesday's low crossing at 5.35 3/4. Second support is monthly support crossing at 5.23 1/4.

March Minneapolis wheat closed down 2 1/2-cents at 5.56 3/4.

March Minneapolis wheat closed lower on Friday and below the 87% retracement level of the October-December's rally crossing at 5.59. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this winter's decline, October's low crossing at 5.41 is the next downside target. Closes above the 20-day moving average crossing at 5.87 1/4 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 5.71 1/4. Second resistance is the 20-day moving average crossing at 5.87 1/4. First support is today's low crossing at 5.53 1/2. Second support is October's low crossing at 5.41.

SOYBEAN COMPLEX? 

March soybeans closed down 7 1/4-cents at 9.61.

March soybeans closed lower on Friday as it extends this month's decline. Today's low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, the 87% retracement level of the October-November-rally crossing at 9.42 is the next downside target. Closes above the 20-day moving average crossing at 10.02 1/2 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 9.76 1/4. Second resistance is the 20-day moving average crossing at 10.02 1/2. First support is today's low crossing at 9.55. Second support is the 87% retracement level of the October-November-rally crossing at 9.42.

March soybean meal closed down $8.00 at 329.90.

March soybean meal closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off December's high, the 75% retracement level of the October-November-rally crossing at 313.90 is the next downside target. Closes above the 20-day moving average crossing at 338.00 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 338.00. Second resistance is the reaction high crossing at 356.00. First support is January's low crossing at 321.00. Second support is the 75% retracement level of the October-November-rally crossing at 313.90.

March soybean oil closed up 46-pts. at 30.00.

March soybean oil posted an inside day and closed higher on Friday as it consolidated some of the decline off January's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, monthly support crossing at 28.64 is the next downside target. Closes above the 20-day moving average crossing at 32.19 would confirm that a low has been posted. First resistance is the 10-day moving average crossing at 31.43. Second resistance is the 20-day moving average crossing at 32.19. First support is Thursday's low crossing at 29.32. Second support is monthly support crossing at 28.64.

INO.com on Facebook INO.com MarketClub on Twitter INO.com on Google+ INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.