WHEAT
General Comments: Wheat closed higher yesterday on US Dollar weakness. Better export sales are now anticipated due the move lower seen Monday in reaction to the USDA reports and were reported last week. US Wheat areas need snow cover and got some after a major cold front moved through Midwest production areas. 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.
Chart Analysis: Trends in Chicago are up. Support is at 519, 502, and 510 March, with resistance at 545, 555, and 563 March. Trends in Kansas City are up. 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 a little higher yesterday and trends are up as prices have moved out of the sideways bottoming range on the daily charts. 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 quiet for US Rice.
Chart Analysis: Trends are up. Support is at 1030 1002, and 1996 March and resistance is at 1110, 1125, and 1139 March.

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CORN AND OATS
General Comments: Corn was higher yesterday on US Dollar weakness. Trends are up due 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 a little higher and trends are mixed.
Chart Analysis: Trends in Corn are down. Support is at 417, 414, and 411 March, and resistance is at 433, 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 again yesterday as the US Dolar moved lower. Soybean Oil was lower. 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 and was reported at 2% complete. Temperatures will average below normal in the Midwest.
Analysis: Trends in Soybeans are mixed. Support is at 1058, 1049, and 1038 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 higher today on idea of increasing seasonal demand and on ideas that Palm Oil is relatively cheap in the world market. 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 higher yesterday along with Chicago Soybrans and on 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 4200, 4150, and 4070 April, with resistance at 4350, 4420, and 4540 April.

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