S&P 500
1951.13
+2.27 +0.12%
Dow Indu
16374.76
+23.38 +0.14%
Nasdaq
4735.54
-14.44 -0.30%
Crude Oil
46.72
-0.03 -0.07%
Gold
1125.305
-7.950 -0.70%
Euro
1.112350
-0.009575 -0.85%
US Dollar
96.398
+0.424 +0.55%
Weak

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

December Corn closed down 6-cents at 3.61 1/2.

December corn closed lower on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. The low-range close sets the stage for a steady to lower when Friday's night session begins trading. If December extends this week's decline, August's low crossing at 3.57 1/2 is the next downside target. Closes above the 20-day moving average crossing at 3.76 3/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.76 3/4. Second resistance is last Tuesday's high crossing at 3.65 1/2. First support is is today's low crossing at 3.61 1/4. Second support is August's low crossing at 3.57 1/2.

December wheat closed down 14 1/4-cents at 4.64 3/4.

December wheat closed lower on Thursday extending the decline off July's high. The low-range close sets the stage for a steady to lower opening when Friday'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 December extends this summer's decline, weekly support crossing at 4.60 3/4 is the next downside target. Closes above the 20-day moving average crossing at 4.99 1/4 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 4.99 1/4. Second resistance is the reaction high crossing at 5.16. First support is today's low crossing at 4.64 3/4. Second support is weekly support crossing at 4.60 3/4.

December Kansas City Wheat closed down 7-cents at 4.67 3/4.

December Kansas City wheat closed lower on Thursday as it extended the decline off July's high. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this summer's decline, weekly support crossing at 4.55 1/4 is the next downside target. Closes above the 20-day moving average crossing at 4.95 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4.95 1/4. Second resistance is the reaction high crossing at 5.05. First support is today's low crossing at 4.66 3/4. Second support is weekly support crossing at 4.55 1/4.

December Minneapolis wheat closed down 8-cents at 5.00 1/4.

December Minneapolis wheat closed lower on Thursday as it extended this summer's decline. The low-range close sets the stage for a steady to lower opening when Friday'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 December extends the decline off June's high, weekly support crossing at 4.77 1/4 is the next downside target. Closes above the 20-day moving average crossing at 5.22 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 5.22 1/2. Second resistance is August's high crossing at 5.57 3/4. First support is psychological support crossing at 5.00. Second support is weekly support crossing at 4.77 1/4.

SOYBEAN COMPLEX? 

November soybeans closed down 5-cents at 8.69.

November soybeans closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday'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 November renews the decline off July's high, weekly support crossing at 8.38 1/4 is the next downside target. Closes above the 20-day moving average crossing at 9.04 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 8.77 1/2. Second resistance is the 20-day moving average crossing at 9.04. First support is August's low crossing at 8.55. Second support is weekly support crossing at 8.38 1/4.

December soybean meal closed down $2.20 at 308.10.

December soybean meal closed lower on Thursday. The mid-range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are oversold, diverging and are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 316.90 are needed to confirm that a short-term low has been posted. If December extends the decline off July's high, the 75% retracement level of the June-July-rally crossing at 303.90 is the next downside target. First resistance is the 20-day moving average crossing at 316.90. Second resistance is August's high crossing at 344.00. First support is today's low crossing at 305.30. Second support is the 75% retracement level of the June-July-rally crossing at 303.90.

December soybean oil closed down 6-pts. at 27.03.

December soybean oil closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off June's high, weekly support crossing at 23.19 is the next downside target. Closes above the 20-day moving average crossing at 28.39 are needed to confirm that a low has been posted. First resistance is Monday's high crossing at 28.30. Second resistance is the 20-day moving average crossing at 28.39. First support is August's low crossing at 25.70. Second support is weekly support crossing at 23.19.

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

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