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GRAINS https://quotes.ino.com/exchanges/?c=grains

March Corn closed up 1 3/4-cents at 3.83.

March corn closed fractionally higher on Friday. The mid-range close sets the stage for a steady to higher opening when Tuesday's night sessions begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Tuesday's high crossing at 3.81 would confirm that a short-term low has been posted. First resistance is January's high crossing at 3.84 1/2. Second resistance is December's high crossing at 3.87 3/4. First support is Tuesday's low crossing at 3.71. Second support is Nov.'s low crossing at 3.67 1/4.

March wheat closed unchanged at 5.17 3/4.

March wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to lower prices are possible near-term. Closes above last-Tuesday's high crossing at 5.24 1/2 are needed to renew the rally off January's low. If March resumes the decline off December's high, psychological support crossing at 5.00 is the next downside target. First resistance is last-Tuesday's high crossing at 5.24 1/2. Second resistance is December's high crossing at 5.38 1/2. First support is January's low crossing at 5.01 1/4. Second support is psychological support crossing at 5.00.

March Kansas City Wheat closed up 2-cents at 5.06.

March Kansas City wheat closed higher on Friday. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Wednesday's high crossing at 5.05 1/2 are needed to confirm that a short-term low has been posted while renewing the rally off December's low. If March resumes the decline off December's high, November's low crossing at 4.82 1/4 is the next downside target. First resistance is December's high crossing at 5.24 1/2. Second resistance is November's high crossing at 5.33 3/4. First support is December's low crossing at 4.87 1/4. Second support is November's low crossing at 4.82 1/4.

March Minneapolis wheat closed up 2 1/4-cents at 5.74 1/4.

March Minneapolis wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off December's low, December's high crossing at 5.89 1/2 is the next upside target. If March resumes the decline off December's high, weekly support on the continuation chart crossing at 5.23 3/4 is the next downside target. First resistance is the reaction high crossing at 5.74 1/2. Second resistance is December's high crossing at 5.89 1/2. First support is December's low crossing at 5.44 1/2. Second support is weekly support crossing at 5.23 3/4.

SOYBEAN COMPLEX? 

March soybeans closed up 9-cents at 9.16 3/4.

March soybeans closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 10-day moving average crossing at 9.10 has tempered the near-term bearish outlook. If March extends the aforementioned decline, December's low crossing at 8.80 1/4 is the next downside target. First resistance is January's high crossing at 9.27 3/4. Second resistance is December's high crossing at 9.41. First support is December's low crossing at 8.80 1/4. Second support is the reaction low crossing at 8.71 1/4.

March soybean meal closed up $2.50 at 314.70.

March soybean meal closed higher on Friday as it consolidates some of the decline off January's high. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 315.70 would temper the bearish outlook. If March renews this month's decline, December's low crossing at 307.10 is the next downside target. First resistance is January's high crossing at 324.60. Second resistance is October's high crossing at 327.40. First support is December's low crossing at 307.10. Second support is November's low crossing at 305.30.

March soybean oil closed up 27 pts. at 29.04.

March soybean oil closed higher on Friday as it renewed the rally off December's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, December's high crossing at 29.50 is the next upside target. Closes below the reaction low crossing at 28.08 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 29.09. Second resistance is December's high crossing at 29.50. First support is December's low crossing at 27.58. Second support is November's low crossing at 27.42.

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