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

December Corn closed down 4-cents at 3.67.

December corn closed lower on Friday as it extended this week's decline. Today's news that the trade war between the U.S. and China overshadowed Pro-Farmers crop tour results. The crop tour estimated this year's corn crop at 13.358 billion bushels or 163.30 bushels per acre. The low-range close sets the stage for a steady to lower opening when Monday's night sessions begins trading. Stochastics and the RSI oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off July's high, May's low crossing at 3.63 3/4 is the next downside target. Closes above last-Tuesday's gap crossing at 3.92 3/4 would confirm that a short-term low has been posted. First resistance is last-Tuesday's gap crossing at 3.92 3/4. Second resistance is the 20-day moving average crossing at 3.94 1/2. First support is today's low crossing at 3.65 1/2. Second support is May's low crossing at 3.63 3/4.

December wheat closed up 5 1/4-cents at 4.77.

December wheat closed higher on Friday as it consolidates some of Tuesday's decline. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 4.84 1/2 would confirm that a short-term low has been posted. If December extends the decline off June's high, the 87% retracement level of the May-June-rally crossing at 4.58 1/2 is the next downside target. First resistance is the 20-day moving average crossing at 4.84 1/2. Second resistance is the reaction high crossing at 5.06 1/4. First support is the 87% retracement level of the May-June-rally crossing at 4.58 1/2. Second support is May's low crossing at 4.42 1/4.

December Kansas City Wheat closed up a 1/2-cent at 4.06 3/4.

December Kansas City wheat closed fractionally higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday 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 3.82 is the next downside target. Multiple closes above the 20-day moving average crossing at 4.22 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.04 1/4. Second resistance is the 20-day moving average crossing at 4.22. First support is last-Wednesday's low crossing at 3.97 1/2. Second support is weekly support crossing at 3.82.

December Minneapolis wheat closed up 1-cent at 5.14 1/2.

December Minneapolis wheat 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 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, psychological support crossing at 5.00 is the next downside target. Closes above the 20-day moving average crossing at 5.25 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 5.25 1/2. Second resistance is the reaction high crossing at 5.50 1/2. First support is today's low crossing at 5.11 3/4. Second support is psychological support crossing at 5.00.

SOYBEAN COMPLEX? 

November soybeans closed down 13 3/4-cents at 8.55.

November soybeans closed sharply lower on Friday as the trade war between the U.S. and China heated up again. Today's Pro-Farmer report estimated this year's bean crop at 3.497 billion bushel or 46.1 bushels per acre. 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 bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off June's high, the 75% retracement level of the May-June-rally crossing at 8.48 1/2 is the next downside target. Multiple closes above last-Tuesday's high crossing at 8.96 3/4 are needed to confirm that a short-term low has been posted. First resistance is last-Tuesday's high crossing at 8.96 3/4. Second resistance is the 50-day moving average crossing at 8.99. First support is the 75% retracement level of the May-June-rally crossing at 8.48 1/2. Second support is the 87% retracement level of the May-June-rally crossing at 8.32 1/2.

December soybean meal closed down $4.30 at 295.00.

December soybean meal closed sharply lower on Friday and posted a downside breakout of this month's trading range. 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 December resumes the decline off June's high, May's low crossing at 291.60 is the next downside target. Closes above last-Wednesday's high crossing at 306.30 would confirm that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 306.30. Second resistance is the 50-day moving average crossing at 311.70. First support is the 87% retracement level of the May-June-rally crossing at 297.10. Second support is May's low crossing at 291.60.

December soybean oil closed down 26-pts at 28.64.

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 bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, August's low crossing at 27.88 is the next downside target. If December renews the rally off May's low, the 75% retracement level of the February-May-decline crossing at 30.79 is the next upside target. First resistance is August's high crossing at 30.25. Second resistance is the 75% retracement level of the February-May-decline crossing at 30.79. First support is August's low crossing at 27.88. Second support is May's low crossing at crossing at 26.96.