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

July Corn closed down $0.02 1/4-cents at 3.36 1/4.

July corn closed lower on Friday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Monday's night sessions begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this year's decline, monthly support crossing at $3.29 3/4 is the next downside target. Closes above the 20-day moving average crossing at $3.54 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.47. Second resistance is the 20-day moving average crossing at $3.54 1/4. First support is today's low crossing at $3.34. Second support is monthly support crossing at $3.29 3/4.

July wheat closed up $0.08 1/4-cents at $5.47.

July wheat closed higher on Friday as it consolidated some of its losses of the previous two-days. 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 $5.34 1/4 would confirm that a short-term top has been posted. If July resumes the rally off March's low, January's high crossing at $5.89 is the next upside target. First resistance is March's high crossing at $5.71 1/2. Second resistance is January's high crossing at $5.89. First support is the 20-day moving average crossing at $5.34 1/4. Second support is March's low crossing at $4.94 1/4.

July Kansas City Wheat closed up $0.07 1/4-cents at $4.78 1/2.

July Kansas City wheat posted an inside day with a higher close on Friday. The mid-range close sets the stage for a steady opening when Monday 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 $4.69 1/4 are needed to confirm that a short-term top has been posted. If July resumes the rally off March's low, January's high crossing at $5.19 is the next upside target. First resistance is March's high crossing at $5.09 1/4. Second resistance is January's high crossing at $5.19. First support is the 20-day moving average crossing at $4.69 1/4. Second support is the 62% retracement level of March's rally crossing at $4.58 1/2.

July Minneapolis wheat closed up $0.05 1/2-cents at $5.35 1/2.

July Minneapolis wheat closed higher on Friday as it consolidates some of this week'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 neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 5.32 would temper the near-term friendly outlook. If July renews the rally off March's low, February's high crossing at $5.58 3/4 is the next upside target. First resistance is February's high crossing at $5.58 3/4. Second resistance is January's high crossing at $5.82 1/2. First support is the 20-day moving average crossing at $5.32. Second support is March's low crossing at $5.13 1/2.

SOYBEAN COMPLEX? 

July soybeans closed down $0.04 3/4-cents at $8.59 1/4.

July soybeans closed lower on Friday as it extends this week's decline. 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 July extends this week's decline, March's low crossing at $8.29 is the next downside target. If July renews the rally off March's low, March's high crossing at $9.20 1/2 is the next upside target. First resistance is the 50-day moving average crossing at $8.93 1/4. Second resistance is March's high crossing at $9.20 1/2. First support is today's low crossing at $8.56 1/2. Second support is March's low crossing at $8.29.

July soybean meal closed down $4.30 at $303.50.

July soybean meal closed sharply lower on Friday as it extends the decline off March's high. 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 July extends this week's decline, March's low crossing at $296.20 is the next downside target. Closes above the 10-day moving average crossing at $316.70 would confirm that a short-term top has been posted. First resistance is the 10-day moving average crossing at $316.70. Second is March's high crossing at $326.40. First support is today's low crossing at $301.20. Second support is March's low crossing at $296.20.

July soybean oil closed up 12-pts. At 26.71.

July soybean oil closed higher on Friday. The mid-range close sets the stage for a steady 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 May renews the decline off January's high, weekly support crossing at 20.70 is the next downside target. Closes above Monday's high crossing at 27.74 are needed to confirm that a short-term low has been posted. First resistance is Monday's high crossing at 27.74. Second resistance is the March 9th gap crossing at 28.89. First support is March's low crossing at 25.02. Second support is weekly support crossing at 20.70.