DOW JONES NEWSWIRES

  DECEMBER CORN

  December corn on Monday closed slightly higher, nearer the session high and
were supported by tepid short covering in a bear market. The corn bears still
have the near-term technical advantage at present. However, prices  have been
"basing" at lower levels for six weeks, which can be viewed  favorably by
bulls.

  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 the August low of $3.11 1/2 a bushel.

  First resistance for December corn is seen at Monday's high of $3.32 and then
at last week's high of $3.37 1/2. First support is seen at $3.25 and then at
Monday's low of $3.20 1/4.

  $7.07 

 the contract high

  $3.27 3/4 
 10-day moving average

  $3.32 1/4 
 20-day moving average

  $3.34 1/4 
 40-day moving average

  $3.02 
--- the contract low

  DECEMBER CBOT WHEAT

  December Chicago wheat on Monday closed firmer and near the session high on
tepid short covering in a bear market. Prices hit a fresh contract low early
on. Wheat bears still have the solid overall near-term technical advantage.
Prices are still in a three-month-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 today's high of $5.02 and then at last week's
high of $5.16 1/2. First support lies at Monday's contract low of $4.80 3/4 and
then at $4.75.

  $11.50 1/2 --- the contract high

  $ 4.97 3/4 --- 10-day moving average

  $ 5.10 3/4 --- 20-day moving average

  $ 5.32 1/2 --- 40-day moving average

  $ 4.80 3/4 --- the contract low

  DECEMBER KCBT WHEAT

  December KCBT wheat on Monday closed firmer and near the session high on
tepid short covering in a bear market. Prices hit a fresh contract low early on
today. Bears still have the solid near-term technical advantage. Prices are in
a three-month-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 Monday's high of $5.24 and then at $5.30. First
support is seen at Monday's contract low of $5.03 and then at $5.00.

  $11.35 
-- the contract high

  $ 5.18 1/4 --- 10-day moving average

  $ 5.30 3/4 --- 20-day moving average

  $ 5.52 1/2 --- 40-day moving average

  $ 5.03 
--- the contract low