WHEAT
General Comments: The markets closed mixed yesterday, with higher prices in Chicago SRW and in Minneapolis, but lower KC Wheat prices, as the reports of and forecasts for showers in western growing areas. Crops in the Great Plains are reported to be in good condition although there are concerns about too muc rain falling in northern Texas and Oklahoma. Rain has become much less in the southern Midwest and Mid South. Chart trends are mixed in Winter Wheat markets and in Minneapolis. Traders keep talking about a tight market as a reason to support prices, but enough Wheat has always been available to the market and demand for US Wheat in export markets has been poor. Dry outlooks for the Black Sea regions are still a main feature. Overall demand for world Wheat has been weak.
Chart Analysis: Trends in Chicago are down. Support is at 505, 500, and 494 July, with resistance at 518, 521, and 526 July. Trends in Kansas City are down. Support is at 526, 520, and 514 July, with resistance at 543, 548, and 567 July. Trends in Minneapolis are mixed. Support is at 592, 589, and 583 July, and resistance is at 640, 650, and 669 July.

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RICE
General Comments: Rice closed much higher yesterday on speculative buying and ideas that the market had gotten too cheap. The cash market has been slow with mostly quiet domestic markets and average export demand. Export sales have not been strong, and domestic demand is not strong enough right now to bid prices any higher. Milling quality of the Rice remains below industry standards and it takes more Rough Rice to create the grain for sale to stores and exporters. Rice is planted in southern growing areas now and is about half done farther to the north.
Chart Analysis: Trends are down. Support is at 1260, 1248, and 1236 July and resistance is at 1324, 1338, and 1359 July.

CORN AND OATS
General Comments: Corn closed higher yesterday as the market reacted once again to better planting weather in the Midwest and as demand prospects remained strong due to the weaker US Dollar. President Trump keeps talking about cutting deals on the tariffs, but nothing has been announced yet. Demand for Corn in domestic and world markets remains strong with sales of well above 1.0 million tons in the latest reporting week. It is dry in growing areas in western US, but most of the Midwest has had precipitation lately and eastern and southern areas are drying out after being too wet. It has become warmer in much of the Midwest and planting progress is expected to be much improved this week, but rain remains in the forecast. Oats were a little lower, and the trends are mixed in this market.
Chart Analysis: Trends in Corn are down. Support is at 469, 461, and 455 July, and resistance is at 477, 483, and 487 July. Trends in Oats are mixed. Support is at 350, 344, and 339 July, and resistance is at 362, 367, and 373 July.

SOYBEANS
General Comments: Soybeans and Soybean Oil were lower yesterday, and Soybean Meal closed higher in correction trading. The reports of demand have remained solid for US Soybeans as China has been taking almost all the export from South America. Deferred months were lower as the weather is forecast to be much better for planting after this week. Warmer temperatures are expected this weekend.
Analysis: Trends in Soybeans are mixed. Support is at 1038, 1028, and 1009 July, and resistance is at 1058, 1067, and 1070 July. Trends in Soybean Meal are mixed. Support is at 294.00, 290.00, and 287.00 July, and resistance is at 302.00, 306.00, and 308.00 July. Trends in Soybean Oil are mixed. Support is at 4840, 4780, and 4650 Jul7, with resistance at 4770, 5010, and 5090 July.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were closed today. There is talk of reduced supplies in the market. Chart trends are mixed. Canola was mixed yesterday and traded at new highs for the move early in the session. Trends are still up on the daily charts and weekly charts. Canadian goods were exempted from the new round of tariffs but still must deal with the tariffs previously imposed by the US. The weather has generally been good for planting in the Prairies but it is too dry in some areas.
Chart Analysis: Trends in Canola are mixed. Support is at 680.00, 676.00, and 662.00 July, with resistance at 70500, 712.00, and 718.00 July. Trends in Palm Oil are mixed to down. Support is at 3860, 3740, and 3620 July, with resistance at 3970, 4030, and 4150 July.

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