WHEAT
General Comments: Wheat markets were mostly lower yesterday as the Winter Wheat harvest made good progress last week amid mostly good conditions. Dry weather is still forecast for Spring Wheat areas, but Minneapolis closed lower Hard Red Winter closed a little higher. The Winter Wheat harvest is ongoing. Winter Wheat yield reports are strong, so the supply will likely be good once the harvest is complete. There have been some rains in the region to keep the harvest pressure on the slow side but the quality seems good. However, the Spring Wheat situation is different and a short crop is increasingly likely. More rain is possible later this week, but Spring Wheat areas could get shortchanged again. Chart trends are sideways in the Winter Wheat markets but are still up in Minneapolis.
Overnight News: The southern Great Plains should get scattered showers. Temperatures should be near to below normal. Northern areas should see mostly dry conditions. Temperatures will be above normal. The Canadian Prairies should see mostly dry conditions. Temperatures should average above normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 637, 628, and 621 September, with resistance at 663, 676, and 680 September. Trends in Kansas City are mixed. Support is at 620, 605, and 593 September, with resistance at 643, 655, and 662 September. Trends in Minneapolis are mixed. Support is at 796, 780, and 762 September, and resistance is at 846, 857, and 864 September.

RICE
General Comments: Rice closed a little higher before the USDA reports today. Ideas are that USDA could show less Rice planted area as it is much less profitable to grow than corn and soybeans and due to some problems with weather at planting time. The daily charts show mixed trends. Mostly dry conditions and warmer temperatures are currently forecast for southern US growing areas, but Louisiana and Mississippi got a tropical storm moving through this past weekend. Rice areas have generally been wet and northern areas have been cool, but better conditions are appearing this week. Louisiana and parts of Mississippi were saturated but it is drier now. Some big storms are in the forecast for the rest of the week. Warm temperatures are reported in Arkansas and Missouri and the crop progress is improving. However, it is still very wet in Arkansas, and farmer progress has been limited for the last couple of weeks. World prices \were mostly a little lower last week.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be above normal.
Chart Analysis: Trends are mixed. Support is at 1336, 1331, and 1311 September, with resistance at 1358, 1371, and 1389 September.

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CORN AND OATS
General Comments: Corn was a little higher on reports of and forecasts for more cold weather in Brazil and as many US places got too much rain and others not nearly enough. Temperatures got close to or just below freezing in parts of southern Brazil and on into Paraguay. There are ideas of losses to Corn in these areas, and some ideas are that the losses could be extensive in affected areas. Rains late last week and last weekend were very big in central Illinois, northern Missouri, and into Indiana and Ohio. As much as 8.00 inches fell in some locations but some areas in the northwest of the Midwest and into the northern Great Plains got much less. More was coming this week. As much as 2.00 to 4.00 inches of rain is possible, with more forecast for a few areas, mostly in central and eastern areas but also somewhat in the west. Oats were higher. Canadian Oats areas look to be dry in the near term. Hot and dry conditions continue in central and northern Brazil for Corn there. Longer range forecasts released by NWS call for warmer and drier weather for many important US growing areas this Summer.
Overnight News:
Chart Analysis: Trends in Corn are mixed to up with objectives of 583 and 611 September. Support is at 555, 528, and 516 September, and resistance is at 579, 585, and 604 September. Trends in Oats are up with objectives of 410 September. Support is at 380, 367, and 358 September, and resistance is at 391, 401, and 403 September.

SOYBEANS
General Comments: Soybeans and the products closed mixed yesterday, with Soybean Meal lower and Soybean Oil higher on reports of big rains in much of the Midwest and forecasts for more rains in the coming week. Rains up to 8.00 inches were reported in parts of Missouri and Illinois and big rains fell mostly east of the Mississippi River, but also west in eastern and southern Iowa and northern Missouri. These areas are in line for more rain this week. Minnesota and northern Iowa and the Dakotas should get very little if any, rain. Forecasts call for cooler weather this week in the Midwest and northern Great Plains. China has started with new US Soybeans purchases for Fall delivery. The longer-range forecasts from NWS call for warmer and drier than normal conditions for most Soybeans areas of the US.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 1299, 1289, and 1276 August, and resistance is at 1366, 1381, and 1400 August. Trends in Soybean Meal are mixed. Support is at 347.00, 341.00, and 338.00 August, and resistance is at 356.00, 361.00, and 367.00 August. Trends in Soybean Oil are mixed to up with objectives of 6590 and 7090 August. Support is at 6090, 5780, and 5360 August, with resistance at 6370, 6530, and 6800 August.

CANOLA AND PALM OIL
General Comments: Palm Oil futures were higher Friday in anticipation of bullish export dater from the private sources later this week. News that Indonesia was contemplating a reduction in the export tax was also bad for prices. The private surveyors showed more demand so far this month in reports issued on Friday. The reports provoked the stronger Friday close. Canola closed higher on weather concerns and on tight current supplies. Some showers, but a lot of dry weather, is in the forecast for the Prairies this week and it remains generally dry. Demand has backed off with the collapse in world vegetable oils prices, but supplies remain tight in the country. July had trended lower on the lack of demand but rebounded last week on the lack of supply.
Overnight News:
Chart Analysis: Trends in Canola are up with no objectives. Support is at 779.00, 769.00, and 737.00 November, with resistance at 814.00, 820.00, and 826.00 November. Trends in Palm Oil are mixed. Support is at 3420, 3380, and 3350 September, with resistance at 3590, 3700, and 3750 September.