GRAINS: 08/21/09 Higher close on Thursday for Minneapolis, Kansas City and Chicagowheat along with soymeal and rough rice while lower for oats, corn and soyoil.All of the wheat continue to look overall with no changes off of today's higher closes. Corn settled lowerwith good resistance and should staybasically between 3.00 and 3.50 for the rest of the year. Oats closedslightly lowerbut hasstrongresistance between 220 and 235 basis theDecember contract whileconsolidating since the middle of July. Rice made a new recent low but rallied to settle slightly higherwith major support from 130 down to 120 basis the September contract. Beans and oil settled lower while meal closed slightly higher but no changes technically again. Beans have support under 930 basis the November contract while meal is in a support area at this time and oil's(Dec.) support is around 3600.For me the bean complex is a tough call but all can be bought at their support areas for now. Call for details!Sell Signals for Rice, Oats and Minneapolis Wheat.
MEATS: 08/21/09 Reports Today: Cattle On Feed, Cold Storage. Highercloses yesterday for live cattle andlean hogs, unchanged for pork bellies while unchanged to lower for the feedercattle.Thetrend is stilldown forthe cattle and feeders but the action of the last three trading sessions gives some hope for the bulls because it may nowbe at the beginning of a turn around or at least a retracement. Although hogs are still in a downtrend overall they are still showing some bottoming signs holding up over the last week and a half. Bellies closed unchanged but still look lower overall.Sell Signals for Cattle, Feeders and Hogs