Saturday Oct 19, 7:16PM EDT

Trader's Blog

Options Based Portfolio Outperformance - Keys To Success

11 hours ago

China Weighs On Stock Market

1 day ago

Bitcoin And Cryptos Tank After Futures Trading Begins

2 days ago

World Oil Supply And Price Outlook, October 2019

3 days ago

Indexes Retest Critical Price Channel Resistance

4 days ago

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

December Corn closed down 4 1/4-cents at 3.90 1/2.

December corn closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night sessions begins trading. Closes below last-Thursday's low crossing at 3.78 1/4 would confirm that a short-term top has been posted. If December extends the rally off September's low, the 50% retracement level of the June-September-decline crossing at 4.12 3/4 is the next upside target. First resistance is the 38% retracement level of the June-September-decline crossing at 3.98 1/2. Second resistance is the 50% retracement level of the June-September-decline crossing at 4.12 3/4. First support is last-Thursday's low crossing at 3.78 1/4. Second support is the September 26th low crossing at 3.72 1/4.

December wheat closed up 5-cents at 5.30 1/2.

December wheat closed higher on Friday as it extends the rally off September's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 75% retracement level of the June-September-decline crossing at 5.37 is the next upside target. Closes below the 20-day moving average crossing at 4.97 1/2 are needed to confirm that a short-term top has been posted. First resistance is the 75% retracement level of the June-September-decline crossing at 5.37. Second resistance is the 87% retracement level of the June-September-decline crossing at 5.51. First support is the 10-day moving average crossing at 5.08. Second support is the 20-day moving average crossing at 4.97 1/2.

December Kansas City Wheat closed up 2 1/2-cents at 4.33 3/4.

December Kansas City wheat closed higher on Friday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Monday night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 38% retracement level of the June-September-decline crossing at 4.36 1/2 is the next upside target. Closes below the 50-day moving average crossing at 4.06 3/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at 4.33 1/2. Second resistance is the 38% retracement level of the June-September-decline crossing at 4.36 1/2. First support is last-Tuesday's low crossing at 3.98 3/4. Second support is September's low crossing at 3.81.

December Minneapolis wheat closed down 7 1/2-cents at 5.44 1/2.

December Minneapolis wheat 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. Closes below the 20-day moving average crossing at 5.42 3/4 would confirm that a short-term top has been posted. If December extends the rally off October's low, September's high crossing at 5.59 is the next upside target. First resistance is September's high crossing at 5.59. Second resistance is the 75% retracement level of the June-September decline crossing at 5.66 1/4. First support is the 20-day moving average crossing at 5.42 3/4. Second support is the 50-day moving average crossing at 5.22 3/4.

SOYBEAN COMPLEX? 

November soybeans closed up 2 1/4-cents at 9.33 3/4.

November soybeans closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 9.14 1/4 are needed to confirm that a short-term top has been posted. If November extends the rally off September's low, June's high crossing at 9.48 is the next upside target. First resistance is Monday's high crossing at 9.45 1/2. Second resistance is June's high crossing at 9.48. First support is the 10-day moving average crossing at 9.28. Second support is the 20-day moving average crossing at 9.14 1/4.

December soybean meal closed up $1.90 at 308.70.

December soybean meal closed higher on Friday. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 304.00 would temper the near-term friendly outlook. If December extends the rally off September's low, the 62% retracement level of the June-September decline crossing at 319.20 is the next upside target. First resistance is the 50% retracement level of the June-September decline crossing at 314.00. Second resistance is the 62% retracement level of the June-September decline crossing at 319.20. First support is the 20-day moving average crossing at 304.00. Second support is the 50-day moving average crossing at 300.30.

December soybean oil closed down 5-pts. at 30.34.

December soybean oil 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off the September 27th low, the 87% retracement level of the February-September-decline crossing at 31.41 is the next upside target. Closes below the 20-day moving average crossing at 29.66 would temper the near-term friendly outlook. First resistance is Tuesday's high crossing at 30.76. Second resistance is the 87% retracement level of the February-September-decline crossing at 31.41. First support is the 10-day moving average crossing at 30.08. Second support is the 20-day moving average crossing at 29.66.