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

December Corn closed down 5 1/2-cents at 3.53 3/4.

December corn posted an inside day with a lower close on Friday as bearish weather forecast and concern over trade tariffs with China outweigh Thursday's friendly monthly supply-demand report, which slashed forecasts of corn carryout. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off May's high, psychological support crossing at 3.50 is the next downside target. Closes above the reaction high crossing at 3.80 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.68 3/4. Second resistance is the reaction high crossing at 3.80 1/2. First support is Thursday's low crossing at 3.50 1/4. Second support is psychological support crossing at 3.50.

December wheat closed up 10 1/2-cents at 5.11 3/4.

December wheat closed higher 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-Friday's high crossing at 5.30 1/4 would confirm that a short-term low has been posted. If December extends the decline off May's high, January's low crossing at 4.73 3/4 is the next downside target. First resistance is the 20-day moving average crossing at 5.12 1/2. Second resistance is last-Friday's high crossing at 5.30 1/4. First support is Wednesday's low crossing at 4.90. Second support is January's low crossing at 4.73 3/4.

December Kansas City Wheat closed up 10 1/2-cents at 5.16 1/4.

December Kansas City wheat closed higher on Friday. 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 a low might be in or is near. Multiple closes above last-Friday's high crossing at 5.33 1/2 would confirm that a short-term low has been posted. If December resumes the decline off May's high, January's low crossing at 4.87 3/4. First resistance is last-Friday's high crossing at 5.33 1/2. Second resistance is the 50-day moving average crossing at 5.54 1/2. First support is last-Monday's low crossing at 4.93 3/4. Second support is January's low crossing at 4.87 3/4.

December Minneapolis wheat closed unchanged at 5.49 1/4.

December Minneapolis wheat closed unchanged 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes the decline off May's, monthly support crossing at 5.15 1/4 is the next downside target. Closes above the 20-day moving average crossing at 5.64 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 5.64. Second resistance is last-Friday's high crossing at 5.76 3/4. First support is Thursday's low crossing at 5.42 1/4. Second support is monthly support crossing at 5.15 1/2.

SOYBEAN COMPLEX? 

November soybeans closed down 14 3/4-cents at 8.34 1/2.

November soybeans closed lower on Friday as it extends the decline off May's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off May's high, monthly support crossing at 8.25 is the next downside target. Closes above the 20-day moving average crossing at 8.84 1/2 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 8.84 1/4. Second resistance is the reaction high crossing at 8.97. First support is today's low crossing at 8.26 3/4. Second support is monthly support crossing at 8.25.

December soybean meal closed down $4.80 at 322.90.

December soybean meal closed lower on Friday. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off May's high, January's low crossing at 318.40 is the next downside target. Closes above last-Friday's high crossing at 338.90 are needed to confirm that a short-term low has been posted. First resistance is last-Friday's high crossing at 338.90. Second resistance is the reaction high crossing at 341.70. First support is today's low crossing at 322.00. Second support is January's low crossing at 318.40.

December soybean oil closed down 36-points. At 28.33.

December soybean oil closed lower on Friday as it renewed the decline off May's high. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off May's high, June's low crossing at 28.50 is the next downside target. Closes above the 20-day moving average crossing at 29.49 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 29.49. Second resistance is the 50-day moving average crossing at 30.82. First support is today's low crossing at 27.95. Second support is weekly support crossing at 26.99.

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