WHEAT
General Comments: Winter Wheat markets were higher again yesterday. It is a weather market and the planting weather is dry in many northern hemisphere areas. Western Europe is likely to get some good rains in the short term, but southern Russia could stay dry except for a narrow band of showers near Kazakhstan. Dry conditions are forecast for eastern Ukraine this week. Kazakhstan has been dry. These areas are trying to plant the next Winter Wheat crop but the dry weather and the dry soils are keeping farmers out of the fields. Farmers are not really selling much of the current crop due to fears about production of the next crop. Less production is likely in Argentina due to drought, but the rains are coming. Western Australia has also been very dry. The western Great Plains remains mostly hot and dry. The Midwest has had some rains and the forecasts call for good rains this week in SRW areas.
Overnight News: The southern Great Plains should get isolated to scattered showers. Temperatures should be below normal. Northern areas should see scattered showers. Temperatures will be below normal. The Canadian Prairies should see light snow. Temperatures should be below normal.
Chart Analysis: Trends in Chicago are up with objectives of 660 December. Support is at 604, 600, and 587 December, with resistance at 638, 644, and 650 December. Trends in Kansas City are up with objectives of 570 and 600 December. Support is at 552, 540, and 527 December, with resistance at 570, 573, and 576 December. Trends in Minneapolis are up with objectives of 577 December. Support is at 560, 555, and 548 December, and resistance is at 571, 574, and 578 December.

RICE
General Comments: Rice was higher as the US harvest is in its final stages. The harvest has been active in northern states with good field yields reported. Southern Louisiana and Texas are done with the first crop harvest and are waiting for the second crop to mature. Producers had to endure Hurricane Delta in Louisiana, but the Rice apparently made it through with only minimal losses if any losses were seen at all. Quality is said to be very good, especially in Arkansas.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be below normal.
Chart Analysis: Trends are mixed. Support is at 1234, 1220, and 1210 November, with resistance at 1255, 1260, and 1275 November.

CORN AND OATS
General Comments: Corn moved higher in choppy trading. Farmers in the US are holding Corn for later sale despite firm basis and tight carry spreads. Producers are unhappy with the price and the Soybeans are paying much better, so farmers are selling the Soybeans and holding the Corn. Harvest reports from the country suggest that production of a good crop is likely. Demand is holding strong for exports, but domestic demand was cut back from previous estimates in the latest WASDE report. The demand has come primarily from China as the state companies bought for the reserve, but that buying appears to be almost complete now. The harvest has expanded into the Midwest with very good harvest conditions. The Midwest harvest has been slow as the Corn is slow to dry down.
Overnight News:
Chart Analysis: Trends in Corn are up with objectives of 412, 414, and 427 December. Support is at 403, 399, and 393 December, and resistance is at 412, 413, and 416 December. Trends in Oats are mixed. Support is at 294, 291, and 287 December, and resistance is at 300, 303, and 306 December.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and Soybean Meal closed higher and Soybean Oil was lower. Traders are expecting more demand in the short term. The demand has been primarily from China but other countries are buying in the US as well. Reports indicated that the producer is selling Soybeans right off the combine or is delivering against previous contracts. Chinese buying for the reserve is almost finished. Ideas are that individual crushers are still with positions to buy. The trade generally expects China to shift its buying back to Brazil in the near future, but Brazil has been hot and dry and parts of Argentina have also been dry and some of the early planting has been delayed. That might keep the Chinese buying in the US for a little longer. Brazil is starting to get rains, so all of the projected Soybeans area will get planted and a big crop from Brazil is still expected.
Overnight News: Unknown destinations bought 132,000 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are mixed. Support is at 1046, 1038, and 1032 November, and resistance is at 1071, 1080, and 1084 November. Trends in Soybean Meal are mixed to up with objectives of 377.00 December. Support is at 360.00, 353.00, and 349.00 December, and resistance is at 375.00, 378.00, and 381.00 December. Trends in Soybean Oil are mixed to down with objectives of 3030 and 2970 December. Support is at 3210, 3150, and 3130 December, with resistance at 3290, 3340, and 3400 December.

CANOLA AND PALM OIL
General Comments: Palm Oil closed lower on ideas of decreasing production and private reports of weaker demand. It is seasonally a time for trees to produce more due to more regular rains. Getting workers to do the harvest remains hard and the lack of labor has been a big problem. At least some of the plantation owners have asked for more migrant workers to cover the lack of workers that can be sourced locally. Canola was higher. Canola farmers are selling due to harvest pressure, but industry and speculators are buying. The Canadian Dollar is higher but Canola is still considered relatively cheap in the world market.
Overnight News: AmSpec said that Malaysian Palm Oil exports were 1.084 million tons, from 1.040 million tons last month.
Chart Analysis: Trends in Canola are mixed to up with objectives of 536.00, 538.00, and 557.00 November. Support is at 529.00, 527.00, and 521.00 November, with resistance at 536.00, 539.00, and 542.00 November. Trends in Palm Oil are down with no objectives. Support is at 2740, 2710, and 2660 January, with resistance at 2850, 2910, and 2980 January.