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

May Corn closed up $0.11 1/4-cents at $6.43.

May corn closed higher on Friday as it extends the rally off March'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 neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, the 50-day moving average crossing at $6.57 is the next upside target. Closes below Wednesday's low crossing at $6.23 1/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at $6.45. Second resistance is the 50-day moving average crossing at $6.57. First support is Wednesday's low crossing at $6.23 1/4. Second support is March's low crossing at $6.06 3/4.

May wheat closed up $0.26 1/2-cents at $6.88 1/2.

May wheat closed sharply higher on Friday due to short covering that was triggered by news that Russia will half shipments of wheat out of the Ukraine for the time being. The high-range close sets the stage for a steady to higher opening when Monday's day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Friday's high crossing at $7.12 1/2 would confirm that a short-term low has been posted while opening the door for additional short-covering gains. If May extends the decline off February's high, the 87% retracement level of the 2020-2022 rally crossing at $6.32 is the next downside target. First resistance is last-Friday's high crossing at $7.12 1/2. Second resistance is the 50-day moving average crossing at $7.34 1/2. First support is Wednesday's low crossing at $6.54. Second support is the 87% retracement level of the 2020-2022 rally crossing at $6.32.

May Kansas City Wheat closed up $0.28 1/4-cents at $8.48.

May Kansas City wheat closed sharply higher on Friday and above the 50-day moving average crossing at $8.43 3/4 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Monday's day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends this week's decline, February's high crossing at $9.09 3/4 is the next downside target. Closes below Wednesday's low crossing at $7.91 1/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at $8.61 1/4. Second resistance is February's high crossing at $9.09 3/4. First support is Wednesday's low crossing at $7.91 1/4. Second support is March's low crossing at $7.72 1/2.

May Minneapolis wheat closed up $0.16 1/4-cents crossing at $8.57 1/2.

May Minneapolis wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends today's rally, the 50-day moving average crossing at $8.86 1/2 is the next upside target. Closes below Wednesday's low crossing at $8.27 would confirm that a short-term top has been posted. First resistance is today's high crossing at $8.69 1/2. Second resistance is the 50-day moving average crossing at $8.86 1/2. First support is Wednesday's low crossing at $8.27. Second support is March's low crossing at $8.14.

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

May soybeans closed up $0.08 3/4-cents at $14.28 1/4.

May soybeans closed higher on Friday as it consolidated some of the decline off March's high. The high-range close sets the stage for a steady to higher opening when Monday's day trade begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February's high, the 62% retracement level of the 2022-2023 rally crossing at $13.94 1/2 is the next downside target. Closes above the 20-day moving average crossing at $14.89 1/4 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $14.69 1/4. Second resistance is the 20-day moving average crossing at $14.89 1/4. First support is today's low crossing at $14.05. Second support is the 62% retracement level of the 2022-2023 rally crossing at $13.94 1/2.

May soybean meal closed up $6.80 at $445.10.

May soybean meal closed higher on Friday as it consolidated some of this month's decline. The high-range close sets the stage for a steady to higher opening when Monday's day 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 May extends this month's decline, the 38% retracement level of the 2021-2023 rally crossing at $430.80 is the next downside target. Closes above the 20-day moving average crossing at $472.50 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $463.70. Second resistance is the 50-day moving average crossing at $470.60. First support is today's low crossing at $435.00. Second support is the 38% retracement level of the 2021-2023 rally crossing at $430.80.

May soybean oil closed up 110-pts. At 52.27.

May soybean oil posted an inside day with a higher close on Friday as it consolidates some of the decline off last-November's high. The high-range close sets the stage for a steady to higher opening when Monday's day 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 May extends the decline off February's high, the 62% retracement level of the 2020-2022 rally crossing at 50.79 is the next downside target. Closes above the 20-day moving average crossing at 57.71 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 57.71. Second resistance is the 50-day moving average crossing at 60.00. First support is Thursday's low crossing at 51.28. Second support is the 62% retracement level of the 2020-2022 rally crossing at 50.79.