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GRAINS https://quotes.ino.com/exchanges/?c=grains

GRAINS: December corn futures closed down 3 cents at $3.63 3/4 today. Prices closed near mid-range today. The bulls have the overall near-term technical advantage but a six-week-old price uptrend in place on the daily bar chart is still in jeopardy.

November soybeans closed down 3 cents today at $9.93 1/4 a bushel. Prices closed nearer the high. Bulls still have the overall near-term technical advantage but a five-month-old price uptrend in place on the daily bar chart is now in jeopardy. Bulls need to show fresh power soon to keep the near-term uptrend alive.

December soybean meal closed down $1.50 at $332.40 today. Prices closed near mid-range today on more profit taking after hitting a contract high last week. The meal bulls still have the firm overall near-term technical advantage but a seven-week-old price uptrend in place on the daily bar chart is in jeopardy.

December bean oil closed down 43 points at 32.68 cents today. Prices closed near mid-range today. The bean oil bulls have the overall near-term technical advantage but have faded recently. A bear flag pattern has formed on the daily bar chart.

December SRW wheat closed down 2 cents at $5.48 1/4 today. Prices closed nearer the session low today. Bulls have the overall near-term technical advantage amid a six-week-old price uptrend still in place on the daily bar chart. The September high of $5.78 1/4 will be tough resistance for the bulls to push above.

December HRW wheat closed down 6 cents today at $4.76 3/4. Prices closed nearer the session low today. HRW bulls have the slight overall near-term technical advantage amid a four-week-old price uptrend on the daily bar chart.