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GRAINS 

GRAINS: December corn futures closed up 1/2 cent at $3.77 1/2 today. Prices closed near the session low today. The weather in the U.S. Corn Belt is not at all threatening at present and neither are the extended forecasts. Corn bears have the firm overall near-term technical advantage. It's going to take a weather market in July to jumpstart the corn bulls.

November soybeans closed up 3 1/2 cents at $9.17 1/4 a bushel today. Prices closed nearer the session low today and saw tepid short covering in a bear market. The bean bears have the solid overall near-term technical advantage. Weather in the U.S. Corn Belt has moderated and so have extended forecasts, and that's bearish. It's going to take a weather scare in the coming weeks to jumpstart the soybean market bulls.

December soybean meal closed down $0.10 at $297.90 today. Prices closed nearer the session low today. The meal bears have the solid overall near-term technical advantage.

December bean oil closed up 54 points at 32.53 cents today. Prices closed nearer the session high today. The bears still have the firm overall near-term technical advantage.

December Chicago SRW wheat closed up 3 cents at $4.91 today. Prices closed near mid-range today. The bulls and bears are on a level overall near-term technical playing field.

December HRW wheat closed up 4 1/4 cents at $5.01 1/2 today. Prices closed near mid-range. The bulls have the slight overall near-term technical advantage.

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