On report day grain prices reflected the report numbers, bearish corn and bullish beans. Friday saw profit taking reversing Thursdays trend. Large trading funds came in Friday and said what report, turned the page and got back to current grain issues like weather and its impact on early emergence,hows demand and planting. One thing is certain, the trade sees these numbers as a one day trade event as the future suggests potential adjustments. Common thinking is that though Thursdays numbers come from the influence of the march 30 planting intention report, the $3.05 November new crop bean rally over the December new crop corn since January suggests the june 30 final acres planted report will show we planted less corn and more beans than the march 30 report stated. This can set up a reversal of the carry over for corn next year from bearish to more bullish . Of course, should the acres remain unchanged then were certain on the next yearly cycle high next spring to see historic high bean prices. The market sees dry weather in the Midwest up to the end of next week . That should complete corn seeding and put beans at 75% done. Question is will outside markets continue to pressure grains and other markets as funds cut portfolio risk or will funds begin to re-enter the grains with the beginning of a weather premium. Charts read like this. Support for july corn is 5.76 and upside resistance 6.00 then 6.22. July bean support is 14.10 and resistance 14.70. July wheat support is 5.92 with resistance 6.10 then 6.22.