December corn was lower due to profit taking overnight as it consolidates some of this week's rally. A higher Dollar along with lower energy and precious metal markets helped to pressure the corn market overnight. The low-range close overnight sets the stage for a steady to lower opening when the day session begins. Stochastics and the RSI are turning bearish hinting that a double top with October's high might have been posted with Wednesday's high. If December extends the rally off this month's low, October's high crossing at 4.13 1/2 is the next upside target. Closes below the 20-day moving average crossing at 3.85 1/4 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 4.04 3/4. Second resistance is October's high crossing at 4.13 1/2. First support is Thursday's low crossing at 3.90. Second support is the 20-day moving average crossing at 3.85 1/4.

December wheat was lower due to profit taking overnight as it consolidates some of this week's rally. The low-range close sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are overbought and are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 5.27 1/2 would confirm that a short-term top has been posted. If December extends this month's rally, the 50% retracement level of the June-October decline crossing at 5.82 1/4 is the next upside target. First resistance is Wednesday's high crossing at 5.83 1/2. Second resistance is the 50% retracement level of the June-October decline crossing at 5.82 1/4. First support is the 10-day moving average crossing at 5.46 3/4. Second support is the 20-day moving average crossing at 5.27 1/2.

December Kansas City Wheat closed down 4 1/4-cents at 5.61.

December Kansas City Wheat closed lower due to profit taking on Thursday as it consolidates some of this month's rally. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are overbought and are turning neutral hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 5.30 1/4 would confirm that a short-term top has been posted. If December extends this month's rally, the 50% retracement level of the June-October's decline crossing at 6.05 3/4 is the next upside target. First resistance is Wednesday's high crossing at 5.79. Second resistance is the 50% retracement level of the June- October's decline crossing at 6.05 3/4. First support is the 10-day moving average crossing at 5.41 3/4. Second support is the 20-day moving average crossing at 5.30 1/4.

December Minneapolis wheat was lower due to profit taking overnight as it consolidates some of this month's rally. The low-range overnight close sets the stage for a steady to lower opening when the day session begins later this morning. Stochastics and the RSI are overbought and are turning bearish hinting that a double top with October's high might have been posted on Wednesday. Closes below the 20-day moving average crossing at 5.43 3/4 are needed to confirm that a short- term top has been posted. If December extends this month's rally, the 38% retracement level of this year's decline crossing at 6.05 is the next upside target. First resistance is Wednesday's high crossing at 5.87. Second resistance is the 38% retracement level of this year's decline crossing at 6.05. First support is the 10-day moving average crossing at 5.60 1/2. Second support is the 20- day moving average crossing at 5.43 3/4.

SOYBEAN COMPLEX

January soybeans were higher overnight as it extends this week's rally. The low-range overnight close sets the stage for a steady to lower opening when the day session begins later this morning. Stochastics and the RSI are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends the current rally, August's high crossing at 10.68 is the next upside target. Closes below the 20-day moving average crossing at 9.93 1/2 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 10.50. Second resistance is August's high crossing at 10.68. First support is the 10-day moving average crossing at 10.03 1/2. Second support is the 20-day moving average crossing at 9.93 1/2.

December soybean meal was lower due to profit taking overnight, as it consolidates some of this week's rally but remains above the upper boundary of fall's trading range crossing at 312.50. The low-range close overnight set the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, August's high crossing at 320.00 is the next upside target. Closes below the 20-day moving average crossing at 299.40 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 319.20. Second resistance is August's high crossing at 320.00. First support is the 10-day moving average crossing at 303.10. Second support is the 20-day moving average crossing at 299.40.

December soybean oil was higher overnight as it consolidates some of Thursday's decline. The mid-range close sets the stage for a steady opening when the day session begins later this morning. Stochastics and the RSI are turning bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 38.04 would confirm that a short-term top has been posted. If December extends this month's rally, June's high crossing at 41.44 is the next upside target. First resistance is Wednesday's high crossing at 40.36. Second resistance is June's high crossing at 41.44. First support is the 10-day moving average crossing at 38.90. Second support is the 20-day moving average crossing at 38.04.