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GRAINS https://quotes.ino.com/ex changes/?c=grains

December Corn closed down 1-cent at 3.79.

December corn closed lower on Friday. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. Multiple closes above the 10-day moving average crossing at 3.79 would temper the near-term bearish outlook. If December resumes the rally off July's low, the 50% retracement level of the May-July-decline crossing at 3.89 3/4 is the next upside target. If December extends the decline off August's high, the reaction low crossing at 3.65 1/4 is the next downside target. First resistance is the 50% retracement level of the May-July-decline crossing at 3.89 3/4. Second resistance is the 62% retracement level of the May-July-decline crossing at 3.99. First support is the reaction low crossing at 3.65 1/4. Second support is July's low crossing at 3.50 1/4.

December wheat closed up 17 1/4-cents at 5.79 1/4.

December wheat closed higher on Friday and above the 10-day moving average crossing at 5.74 thereby tempering the near-term bearish outlook. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends today's rally, August's high crossing at 6.13 is the next upside target. If December resumes the decline off August's high, the 50-day moving average crossing at 5.39 1/4 is the next downside target. First resistance is August's high crossing at 6.13. Second resistance is the July-2017 high crossing at 6.22. First support is Wednesday's low crossing at 5.49. Second support is the 50-day moving average crossing at 5.39 1/4.

December Kansas City Wheat closed up 17-cents at 5.92.

December Kansas City wheat closed higher on Friday and above the 10-day moving average crossing at 5.89 tempering the near-term bearish outlook. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the decline off August's high, the 50-day moving average crossing at 5.48 1/4 is the next downside target. First resistance is August's high crossing at 6.26. Second resistance is the July-2017 high crossing at 6.42. First support is the 50-day moving average crossing at 5.48 1/4. Second support is the reaction low crossing at 5.28 1/4.

December Minneapolis wheat closed up 12-cents at 6.25 1/4.

December Minneapolis wheat closed higher on Friday as it consolidates some of the decline off August's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 6.27 1/2 would temper the near-term bearish outlook. If December extends the decline off August's high, the 50-day moving average crossing at 5.89 1/2 is the next downside target. First resistance is August's high crossing at 6.56. Second resistance is May's high crossing at 6.60 1/2. First support is the 50-day moving average low crossing at 5.89 1/2. Second support is the reaction low crossing at 5.71 3/4.

SOYBEAN COMPLEX? 

November soybeans closed up 3/4-cents at 8.97 3/4.

November soybeans posted an inside day with a fractionally higher close on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Thursday's high crossing at 9.14 1/2 would confirm that a short-term low has been posted. If November renews the aforementioned decline, July's low crossing at 8.26 1/4 is the next downside target. First resistance is the 38% retracement level of the May-July-decline crossing at 9.15. Second resistance is the 50% retracement level of the May-July-decline crossing at 9.42 3/4. First support is Monday's low crossing at 8.51 1/4. Second support is July's low crossing at 8.26 1/4.

December soybean meal closed down $3.10 at 333.90.

December soybean meal closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Thursday's high crossing at 338.50 would confirm that a low has been posted. If December resumes the decline off July's high, weekly support crossing at 319.40 is the next downside target. First resistance is last-Thursday's crossing at 338.50. Second resistance is July's high crossing at 343.20. First support is Monday's low crossing at 321.10. Second support is weekly support crossing at 319.40.

December soybean oil closed up 17-points. At 28.65.

December soybean oil closed higher on Friday. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. If December resumes the decline off the late-July high, July's low crossing at 27.95 is the next downside target. Closes above the 50-day moving average crossing at 29.22 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 29.39. Second resistance is the reaction high crossing at 30.15. First support is Wednesday's low crossing at 28.05. Second support is July's low crossing at 27.95.

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