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July Corn closed up $0.10 1/2-cents at $7.22 1/4.

July corn posted an inside day with a higher close on Tuesday as it consolidates above broken monthly resistance crossing at $7.07 3/4. Wednesday's WASDE report holds the keys to near-term direction of the market. The high-range close sets the stage for a steady to higher opening when Wednesday's night sessions begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the aforementioned rally, the 87% retracement level of the 2012-2020-decline crossing at $7.73 is the next upside target. Closes below the 20-day moving average crossing at $6.51 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $7.35 1/4. Second resistance is the 87% retracement level of the 2012-2020-decline crossing at $7.73. First support is the 10-day moving average crossing at $6.93 1/2. Second support is the 20-day moving average crossing at $6.51.

July wheat closed up $0.11 1/4-cents at $7.41 3/4.

July wheat closed higher on Tuesday as it extends the trading range of the past three-weeks. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $7.10 1/2 would signal that a short-term top has been posted. If July renews this year's rally, psychological resistance crossing at $8.00 is the next upside target. First resistance is April's high crossing at $7.15 1/4. Second resistance is psychological resistance crossing at $8.00. First support is the 20-day moving average crossing at $7.10 1/2. Second support is the 50-day moving average crossing at $6.60 3/4.

July Kansas City Wheat closed up $0.07-cents at $7.10 1/2.

July Kansas City wheat closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $6.79 would signal that a short-term top has been posted. If July resumes the rally off March's low, the 38% retracement level of the 2008-2019-decline on the monthly continuation chart crossing at $7.64 1/4 is the next upside target. First resistance is last-Friday's high crossing at $7.41 1/2. Second resistance is the 38% retracement level of the 2008-2019-decline on the monthly continuation chart crossing at $7.64 1/4. First support is the April-30th low crossing at $6.82 3/4. Second support is the 20-day moving average crossing at $6.79.

July Minneapolis wheat closed up $0.17 1/4-cents at $7.70 1/2.

July Minneapolis wheat closed higher on Tuesday as it consolidated some of Monday's decline. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $7.32 would signal that a short-term top has been posted. If July extends the rally off April's low, the 87% retracement level of the 2017-2020 decline on the monthly continuation chart crossing at $8.18 1/2 is the next upside target. First resistance is last-Friday's high crossing at $8.07 1/4. Second resistance is the 87% retracement level of the 2017-2020 decline on the monthly continuation chart crossing at $8.18 1/2. First support is the 20-day moving average crossing at $7.32. Second support is the 50-day moving average crossing at $6.75 1/2.

SOYBEAN COMPLEX? 

July soybeans closed down $0.27 1/4-cents at $16.14 3/4.

July soybeans closed higher and posted a new contract high on Tuesday as it resumed the rally off March's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off last-April's low, the 87% retracement level of the 2012-2019-decline crossing at $16.59 1/4 is the next upside target. Closes below the 20-day moving average crossing at $15.10 3/4 would signal that a short-term top has been posted. First resistance is today's high crossing at $16.25 1/2. Second resistance is the 87% retracement level of the 2012-2019-decline crossing at $16.59 1/4. First support is the 10-day moving average crossing at $15.51 3/4. Second support is the 20-day moving average crossing at $15.10 3/4.

July soybean meal closed up $4.70 to $447.00.

July soybean meal closed higher on Tuesday as it extended the rally off March's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off March's low, January's high crossing at $458.20 is the next upside target. Closes below the 50-day moving average crossing at $413.70 would signal that a short-term top has been posted. First resistance is today's high crossing at $452.20. Second resistance is January's high crossing at $458.20. First support is the 10-day moving average crossing at $429.00. Second support is the 20-day moving average crossing at $422.90.

July soybean oil closed up 96-pts. at 64.80.

July soybean oil closed higher on Tuesday and posted a new high close for the year. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends this year's rally, the March-2008 high on the monthly continuation chart crossing at 71.26 is the next upside target. Closes below the 10-day moving average crossing at 63.11 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 66.28. Second resistance is the March-2008 high on the monthly continuation chart crossing at 71.26. First support is the 10-day moving average crossing at 63.11. Second support is the 20-day moving average crossing at 59.79.