By Jim Wyckoff
Of DOW JONES NEWSWIRES
MAY CORN
May corn on Tuesday closed weaker and near mid-range in quieter trading.
Bearish "outside markets" Tuesday - weaker crude oil prices, a weaker U.S.
stock market and a firmer U.S. dollar - did limit the upside in corn. While a
three-week-old uptrend is still in place on the daily bar chart, the bulls are
fading a bit, technically, and need to show fresh power soon. The next downside
price objective for the bears is to push and close prices below solid technical
support at $3.75 a bushel. The bulls' next upside price objective is to push
and close prices above solid technical resistance at $4.25. First resistance
for May corn is seen at Tuesday's high of $3.98 and then at this week's high of
$4.03 3/4. First support is seen at Tuesday's low of $3.92 and then at $3.90.
$8.22
the contract high
$3.89 1/4--- 10-day moving average
$3.75 3/4--- 20-day moving average
$3.76
--- 40-day moving average
$3.15 3/4 --- the contract low
MAY CBOT WHEAT
May wheat on Tuesday closed lower and nearer the session low. Bearish
"outside markets" Tuesday--weaker crude oil prices, a weaker U.S. stock market
and a firmer U.S. dollar--did help pressure wheat. Wheat bears still have the
near-term technical advantage. The next downside price objective for the bears
is pushing and closing prices below solid technical support at last week's low
of $5.11 1/2. Bulls' next upside price objective is to push and close May
futures prices above solid technical resistance at this week's high of $5.63 a
bushel. First resistance is seen at $5.45 and then at Tuesday's high of $5.52
3/4. First support lies at Tuesday's low of $5.30 1/4 and then at $5.25.
$11.90
--- the contract high
$5.36 3/4 --- 10-day moving average
$5.29
20-day moving average
$5.44
40-day moving average
$4.84 1/4 --- the contract low
MAY KCBT WHEAT
May KCBT wheat on Tuesday closed lower and near mid-range. A three-week-old
uptrend line on the daily bar chart was penetrated on the downside and negated
Tuesday. The bulls' next upside price objective is pushing prices above solid
technical resistance at $6.20. The bears' next downside objective is pushing
and closing prices below solid technical support at last week's low of $5.71.
First resistance is seen at Tuesday's high of $5.99 and then at this week's
high of $6.12. First support is seen at Tuesday's low of $5.81 and then at
$5.75.
$12.55
the contract high
$5.89 1/2 --- 10-day moving average
$5.77 1/4 --- 20-day moving average
$5.83 1/2 --- 40-day moving average
$5.13
the contract low
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
32900.00 | + 1950 | 33200.00 | + 2000 |
ПФО |
32000.00 | + 1690 | 32500.00 | + 1500 |
СКФО |
33000.00 | + 1350 | 33500.00 | + 1500 |
ЮФО |
33000.00 | + 1500 | 33500.00 | + 1500 |
СФО |
33000.00 | + 1000 | 34000.00 | + 1000 |
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
74000.00 | + 1000 | 74500.00 | + 1000 |
ЮФО |
73000.00 | + 1000 | 75000.00 | + 1000 |
ПФО |
73500.00 | + 1500 | 75000.00 | + 1800 |
СФО |
74000.00 | + 500 | 76000.00 | + 1100 |
Обсуждение