By Jim Wyckoff

  OF DOW JONES NEWSWIRES


  MARCH CORN
 March corn on Friday closed lower, near the session low and closed at a
bearish weekly low close. Bears have gained some fresh downside technical
momentum. A six-week-old downtrend remains in place on the daily bar chart. The
next downside price objective for the bears is to push and close prices below
solid technical support at the February low of $3.55 3/4 a bushel. The bulls'
next upside price objective is to push and close prices above solid technical
resistance at the February high of $3.83. First resistance for March corn is
seen at $3.65 and then at Friday's high of $3.71. First support is seen at
$3.60 and then at $3.55 3/4.
   $8.16     - the contract high

  $3.68 1/4 - 10-day moving average
   $3.76     - 20-day moving average

  $3.85 3/4 - 40-day moving average

  $3.05 1/2 - the contract low


  MARCH CBOT WHEAT
 March wheat on Friday closed lower, near the session low and hit a fresh
two-month low. Wheat bears have the overall near-term technical advantage and
have gained more downside momentum recently. Prices are still in a six-week-old
downtrend on the daily bar chart. The next downside price objective for the
bears is pushing and closing prices below solid technical support at $5.00.
Bulls' next upside price objective is to push and close March futures prices
above solid technical resistance at the February high of $5.77 a bushel. First
resistance is seen at $5.38 3/4 and then at $5.50. First support lies at $5.25
and then at $5.20.
   $12.75     - the contract high

   $5.48 1/4 - 10-day moving average

   $5.61 3/4 - 20-day moving average

   $5.77 1/4 - 40-day moving average
    $4.71     - the contract low


  MARCH KCBT WHEAT
 Kansas City Wheat on Friday closed lower, nearer the session low and closed at
a bearish weekly low close. Bears still have the overall near-term technical
advantage and have gained more downside momentum recently. Prices are in a
six-week-old downtrend on the daily bar chart. The bulls' next upside price
objective is pushing prices above solid technical resistance at the February
high of $6.04. The bears' next downside objective is pushing and closing prices
below solid technical support at the February low of $5.70. First resistance is
seen at Friday's high of $5.80 and then at $5.85. First support is seen at
$5.70 and then at $5.60.
   $12.75     - the contract high

   $5.83 1/4 - 10-day moving average

   $5.95 1/4 - 20-day moving average

   $6.04 1/4 - 40-day moving average
    $4.78     - the contract low