Chicago wheat futures made a good drop at the first of the week like I was expecting but then bounced up off support Friday, to close with only a little gain on shorts for the week. The indicators appear to be pointing down, so I expect wheat to move down again soon, but keep a close eye on it.

Corn futures dropped kind of low but bounced back up off support like I was expecting. Corn should move up some. The indicators appear to be pointing toward a rise in corn, but it’s hard to say if they will break resistance yet. Just keep your stops in place.

Oat futures moved down at the first of the week and stayed steady on Friday, but I believe they should make a move up soon. But keep your stops in place, because none of the indicators have been very definite lately.

Soybean futures made a good jump up on Friday like I was expecting. The indicators aren’t too sure right now. I think they could go up, but if soybeans appear to be stalling, you may want to cover any long positions for now.

Rough rice futures moved down for most of the week to cover most of the gains made from last week and then moved up again on Friday. The indicators appear to be pointing toward a rise in rice, but I would watch it close.

July Chicago wheat closed Friday at 493, down 1.6¢ for the week.

July corn closed Friday at 369.2, down 21.4¢ for the week.

July oats closed Friday at 255.6, down 12.4¢ from Friday.

July soybeans closed Friday at 761.6, up 14.2¢ for the week.

July rough rice closed Friday at 10.545, down .185¢ for the week.

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