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GRAINS

GRAINS: July corn futures closed up 4 1/2 cents at $3.54 today. Prices closed nearer the session high on short covering after hitting another eight-month low early on today. Corn bears still have the solid overall near-term technical advantage. Prices are in a two-month-old downtrend on the daily bar chart.

July soybeans closed down 1 3/4 cents at $9.25 1/4 a bushel today. Prices closed nearer the session low. Prices Tuesday hit a contract low. Bean bears have the solid overall near- term technical advantage.

July soybean meal closed down $2.90 at $305.20 today. Prices closed nearer the session low. Prices Tuesday closed at an eight-month low close. Bears have the solid overall near-term technical advantage.

July bean oil closed up 30 points at 32.04 cents today. Prices closed nearer the session high today on short covering. Bean oil bears still have the overall near-term technical advantage.

July Chicago SRW wheat closed up 3/4 cents at $4.88 1/2 today. Prices closed near mid-range today. Wheat bears have the firm overall near-term technical advantage.

July HRW wheat closed down 1 1/2 cents at $5.10 1/2 today. Prices closed near mid-range today and hit a two-week low. Bears have the solid overall near-term technical advantage.

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