WHEAT
General Comments: Wheat closed higher yesterday as the world economic meeting in Davos continued and as President Trump has waked back his comments on forcibly taking Greenland. Better export sales are now anticipated due the move lower seen Monday in reaction to the USDA reports. US Wheat areas need snow cover Concerns on the condition of the Winter Wheat crops moving forward are growing as there is little snow cover and some very cold temperatures are occurring that could create Winterkill.
Chart Analysis: Trends in Chicago are mixed. Support is at 500, 494, and 488 March, with resistance at 528, 530, and 536 March. Trends in Kansas City are mixed. Support is at 508, 503, and 499 March, with resistance at 536, 540, and 545 March. Trends in Minneapolis are not available.

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RICE
General Comments: Rice was lower yesterday. The market might have finished a bottom formation on the daily and weekly charts. Weaker world prices are expected by the FAO in the coming year. Asian Rice prices are under pressure now due to a weaker Indian Rupee that has forced costs for Indian Rice lower. Trends are turning up in the market but demand remains quiet for US Rice.
Chart Analysis: Trends are mixed to up. Support is at 1030, 1002, and 996 March and resistance is at 1079, 1092, and 1110 March.

CORN AND OATS
General Comments: Corn was a little lower. Trends are mixed to down. USDA increased production in the annual reports released a week ago and the increased supplies have made it hard for prices to rally at all despite reports of strong demand.. Temperatures in the Midwest should average below normal. Oats were lower.
Chart Analysis: Trends in Corn are down. Support is at 417, 414, and 411 March, and resistance is at 428, 433, and 443 March. Trends in Oats are mixed to up. Support is at 284, 278, and 27\5 March, and resistance is at 317, 320, and 326 March.

SOYBEANS
General Comments: Soybeans and Soybean Meal were higher yesterday but Soybean Oil was lower. There are ideas of additional Chinese demand soon but it would be up to the government to buy ad US Soybeands are too high priced for commercial demand from China or almost anywhere else. It still seems that the market is now more concerned about big supplies coming soon from South America with the Soybeans harvest there now underway and was reported at 2% complete. Temperatures will average below normal in the Midwest.
Analysis: Trends in Soybeans are mixed. Support is at 1033, 1030, and 1018 March, and resistance is at 1072, 1082, and 1086 March. Trends in Soybean Meal are mixed. Support is at 286.00, 283.00, and 280.00 March, and resistance is at 307.00, 311.00, and 316.00 March. Trends in Soybean Oil are up. Support is at 5040, 4960, and 4900 March, with resistance at 5440, 5500, and 5560 March.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher today on idea of increasing seasonal demand and on ideas that Palm Oil is relatively cheap in the world market. Soybean Oil prices were higher as well. There are still ideas of increasing production. Demand ideas are in a state of flux right now with some looking for weaker demand and other looking for improved demand. Canola was mixed yesterday as strong demand ideas ran into some profit taking. Canada and China reached agreement on a new trade deal which is expected to result in part in new sales of Canola to China There are ideas of a big Soybeans harvest coming from South America.
Chart Analysis: Trends in Canola are mixed. Support is at 616.00, 600.00, and 590.00 March, with resistance at 650.00, 656.00, and 662.00 March. Trends in Palm Oil are mixed. Support is at 4160, 4110, and 4070 April, with resistance at 4200, 4260, and 4350 April.

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