DOW JONES NEWSWIRES

  DECEMBER CORN

  December corn on Monday closed higher and near the session high on short
covering. The corn bears do still have the near-term technical advantage at
present.

  The corn bulls' next upside price objective is to push prices above  solid
technical resistance at $3.50 a bushel.

  The next downside price objective for the bears is to push and close prices
below solid technical support at last week's low of $3.11 1/2 a bushel.

  First resistance for December corn is seen at Monday's high of $3.35 1/2 and
then at $3.40. First support is seen at $3.30 and then at Monday's low of $3.24
1/4.

  $7.07 

 the contract high

  $3.28 1/2 --- 10-day moving average

  $3.36 1/4 --- 20-day moving average

  $3.39 
--- 40-day moving average

  $3.02 
--- the contract low

  DECEMBER CBOT WHEAT

  December Chicago wheat on Monday closed higher and nearer the session high on
short covering in a bear market and amid strength in corn and beans. Wheat
bears still have the solid overall near-term technical advantage. Prices are in
an 11-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 $4.50.

  Bulls' next upside price objective is to push and close December futures
prices above solid technical resistance at the July low of $5.32 3/4 a bushel.

  First resistance is seen at last week's high of $5.08 3/4 and then at $5.15.
First support lies at the contract low  of $4.85 1/2 and then at $4.75.

  $11.50 1/2 --- the contract high

  $5.02 1/2 --- 10-day moving average

  $5.23 3/4 --- 20-day moving average

  $5.40 1/4 --- 40-day moving average

  $4.85 1/2 --- the contract low

  DECEMBER KCBT WHEAT

  December KCBT wheat on Monday closed higher and near the session high on
short covering in a bear market. Bears still have the solid near-term
technical advantage. Prices are in an 11-week-old downtrend on the daily bar
chart.

  The bulls' next upside price objective is pushing prices above solid
technical resistance at $5.60.

  The bears' next downside objective is pushing and closing prices below major
psychological support at $5.00.

  First resistance is seen at last week's high of $5.24 and then at $5.30.
First support is seen at Monday's low of $5.12 and then at the contract low of
$5.04 and then at $5.00.

  $11.35 
-- the contract high

  $5.20 3/4 --- 10-day moving average

  $5.43 3/4 --- 20-day moving average

  $5.60 3/4 --- 40-day moving average

  $5.04 
--- the contract low

  -By Jim Wyckoff, contributing to Dow Jones Newswires