THE OPEN November beans:  2 lower December meal:  .40 lower December soyoil:  14 lower December corn:  1 1/2 higher September wheat:  4 1/2 higher The markets opened as expected with more short-covering in grains and profit-taking in oilshare.  Traders were unwinding previous buy soyoil/sell meal, and buy corn/sell wheat.   Corn shorts were certainly not panicking as prices traded into key resistance, with all the markets entering into a consolidation phase of trade into tomorrow's August 12 WASDE.   SOY

The major feature in the soy complex was that of more profit-taking in oilshare generated by technical signals.  A key reversal presented as a friendly tech signal in meal, wh...