Tech Guy Opening Calls 10/12/25

Dec Wheat - Steady

Dec Corn - Steady

Dec Bean Oil - Steady

Nov Beans - 0.50 Lower

Crude price - 59.50, up 0.60

S&P price - 6662.50, up 65.25

Soviet Union:

The Soviet Union asked in June 1972 to buy a large amount of U.S. wheat on a three-year deal. An agreement was made for the U.S. to sell the Soviet Union 10 million mts (364 million bushels) of wheat over the next three years. However, the entire tonnage was purchased by the Soviets in July and August 1972 from the ABCD companies. Since the U.S. government was not tracking the export sales and shipments of U.S. food and fiber exports, very suddenly, there was not enough wheat to meet the domestic demand. The price of wheat jumped 30% for American consumers.

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