Wheat ends the day lower [Video]

The grain markets were under pressure on this Veterans Day. I find it interesting and positive that even with the down markets, the bull spreads worked again today. The USDA and all government offices open tomorrow, and I expect a lot of cash sales to be announced. 

Analyzing the charts, support for December corn is at $4.26 and resistance is at $4.35. A close above $4.35 opens the door for a test of $4.50. January soybeans have short-term support at $10.17. The first resistance level is at $10.44 and then at $10.80. Note today how prices closed lower, but well off the midday lows.

December corn futures closed down a penny at $4.30 a bushel. January soybean futures closed 8¢ lower at $10.22 a bushel. Wheat futures closed 6¢ to 7¢ lower.

December hogs closed $1.35 higher at $81.77. December cattle closed unchanged at $183.70. January feeder cattle closed up …