THE OPEN July beans: 4 3/4 higher July meal: .20 higher July soyoil: 23 higher July corn: 3/4 lower July wheat: 5 1/2 lower Prices opened as expected but the charts were suggestive of a corrective price rally, particularly for beans, which transpired after the open. Meal prices rebounded off their lows on the sharp rally in beans, with oilshare finding some resistance at current highs. Beans continued to lead the rally for most of the day, as spreads strengthened as well. Corn followed with buy-stops triggered over highs set this week, as end -of-month short-covering set the table for possible trading ranges from the lows. SOY
Prices opened on a fairly tentative note, but a tame open...
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