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WHEAT
General Comments: Wheat closed lower yesterday on the weather that remains cold, but will now moderate back close to normal temperatures. The US Dollar was lower. Temperatures have been cold enough to promote Winterkill, but most areas got some snow cover to protect crops now. This was not true when the cold came a week ago. The snow came after the cold weather was a factor. 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 have created Winterkill over the weekend again.
Chart Analysis: Trends in Chicago are mixed. Support is at 519, 502, and 510 March, with resistance at 545, 555, and 563 March. Trends in Kansas City are mixed. Support is at 525, 516, and 508 March, with resistance at 550, 553, and 559 March. Trends in Minneapolis are not available.

RICE
General Comments: Rice was higher again yesterday and trends are up. Traders anticipate less production this year in the US and around the world due to low prices. 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 forced costs for Indian Rice lower. Trends are up in the market but demand remains moderate for US Rice.
Chart Analysis: Trends are up. Support is at 1030 1002, and 1996 March and resistance is at 1125, 1139, and 1145 March.

CORN AND OATS
General Comments: Corn was higher yesterday. Trends are down due to excessive supplies as seen in the recent USDA reports after trending higher in recent weeks to the recent demand based rally and after production was increased in the annual report. USDA increased production in the annual reports 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 and trends are mixed.
Chart Analysis: Trends in Corn are down. Support is at 417, 414, and 411 March, and resistance is at 434, 445, and 453 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 the products were higher after President Trump indicated that the Chinese could buy another 9 million tons of US Soyberans.. There are ideas of additional Chinese demand soon but it will be up to the government to buy ad US Soybeans 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. Brazil Soybeans are now 10% harvested. The South American crops are expected to be very large and large South American crops will pressure world prices. Temperatures will average below normal in the Midwest.
Analysis: Trends in Soybeans are mixed. Support is at 1049, 1038, and 1026 March, and resistance is at 1086, 1095, and 1105 March. Trends in Soybean Meal are mixed. Support is at 286.00, 283.00, and 280.00 March, and resistance is at 302.00, 307.00, and 311.00 March. Trends in Soybean Oil are up. Support is at 5040, 4960, and 4900 March, with resistance at 5500, 5560, and 5620 March.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were lower today. Ideas of increasing seasonal demand and on ideas that Palm Oil is relatively cheap in the world market are still around. Demand ideas are in a state of flux right now with some looking for weaker demand and other looking for improved demand. Production is expected to drop in the short term. Canola was lower again yesterday on follow through selling and despite despite strong demand ideas. 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 638.00, 634.00, and 623.00 March, with resistance at 663.00, 668.00, and 674.00 March. Trends in Palm Oil are up. Support is at 4150, 4070, and 4010 April, with resistance at 4350, 4420, and 4540 April.

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