GRAINS: May corn futures last traded up 5 1/2 cents at $7.15 3/4 today in late trading. Prices were nearer the session high and poised to close at a fresh five-week high close. A weaker U.S. dollar index and good weekly USDA export sales data today boosted the corn market.Corn bulls and bears are on a level near-term technical playing field. However, a bullish weekly high close on Friday would provide the bulls with good upside near-term technical momentum. Corn bulls’ next upside price objective is to push and close prices above solid technical resistance at $7.25. The next downside price breakout objective for the bears is pushing and closing prices below solid technical support at $7.00. First resistance for May corn is seen at this week’s high of $7.17 3/4 and then at $7.20. First support is seen at today’s low of $7.08 1/4 and then at $7.05. Wyckoff’s Market Rating: 5.0 May soybeans were down 15 1/2 cents at $14.31 1/2 a bushel in late trading today. Prices were nearer the session low today and hit a fresh two-week low. Bean bulls and bears are on a level near-term technical playing field, but the bulls are fading quickly. The next near-term upside technical breakout objective for the soybean bulls is pushing and closing prices above solid technical resistance at $14.70 a bushel. The next downside price breakout objective for the bears is pushing and closing prices below solid technical support at $14.20. First resistance is seen at $14.40 and then at today’s high of $14.50. First support is seen at $14.25 and then at $14.20. Wyckoff’s Market Rating: 5.0. May soybean meal was down $4.80 at $424.10 today in late trading. Prices were nearer the session low and hit a fresh two-week low today. Bulls are fading and are now back on a level technical playing field with the bears. The next upside price breakout objective for the bulls is to produce a close above solid technical resistance at the February high of $443.90. The next downside price breakout objective for the bears is pushing and closing prices below solid technical support at $420.00. First resistance comes in at $427.50 and then at $430.00. First support is seen at today’s low of $423.40 and then at $420.00. Wyckoff’s Market Rating: 5.0 May bean oil was down 41 points at 49.11 cents in late trading today. Prices were nearer the session low again today. Bean oil bears have the overall near-term technical advantage and have gained fresh downside momentum this week. The next upside price breakout objective for the bean oil bulls is pushing and closing prices above solid technical resistance at the March high of 50.78 cents. Bean oil bears’ next downside technical price breakout objective is pushing and closing prices below solid technical support at the March low of 48.67 cents. First resistance is seen at 49.50 cents and then at today’s high of 49.72 cents. First support is seen at 49.00 cents and then at 48.67 cents. Wyckoff’s Market Rating: 2.0 May Chicago SRW wheat was up 10 1/2 cents at $7.20 1/2 in late trading today. Prices were nearer the session high on more short covering and on bullish weekly USDA export sales data for wheat. Wheat bears still have the overall near- term technical advantage. However, a bullish weekly high close on Friday would begin to hint that a market low is in place. Wheat bulls’ next upside breakout objective is to push and close Chicago SRW prices above solid technical resistance at $7.50 a bushel. The next downside price breakout objective for the wheat futures bears is pushing and closing prices below solid technical support at the March low of $6.81. First resistance is seen at $7.26 3/4 and then at $7.32. First support lies at today’s low of $7.07 1/2 and then at $7.00. Wyckoff’s Market Rating: 2.5. May HRW wheat was up 11 1/4 cents at $7.49 in late trading today. Prices were nearer the session high and saw more short covering in a bear market. HRW bears still have the overall near-term technical advantage. Bulls’ next upside price breakout objective is pushing and closing prices above solid technical resistance at the March high of $7.61 1/4. The bears’ next downside breakout objective is pushing and closing prices below solid technical support at the March low of $7.23. First resistance is seen at today’s high of $7.51 1/4 and then at $7.61 1/4. First support is seen at today’s low of $7.35 and then at this week’s low of $7.29 1/4. Wyckoff’s Market Rating: 2.5 May oats were up 1 1/2 cents at $3.93 3/4 in late trading today. Prices were near mid-range and did hit a fresh three-month high today. Oats bulls have the solid near-term technical advantage. Bears’ next downside price breakout objective is pushing and closing prices below solid technical support at $3.75. Bulls’ next upside price breakout objective is pushing and closing prices above solid technical resistance at $4.00. First support lies at $3.90 and then at $3.87 1/4. First resistance is seen at today’s high of $3.98 1/2 and then at $4.00. Wyckoff’s Market Rating: 7.5