Tech Guy Opening Calls & Comments 1/13/25

March Wheat - Steady

March Corn - 0.50 Higher to 0.25 Lower

March Bean Oil - 0.03 Higher

March Beans - Steady to 0.75 Lower

February Crude Oil marked its high price 20 cents above the 61.30 resistance number, after rallying about 2.00 bucks from the previous evening's low print.

support - 60.15, 59.80

resistance - 62.50, 62.95

March Soybeans marked the low price 3 ticks above the 1337.00 support level, after selling off about 15.00 cents from last night's swing high.

support - 1037.00, 1028.50

resistance - 1047.00, 1055.00

March Corn marked its low price at 417.25 which was in between the stated support numbers range of 2.00 cents, then rallied about 5.50 cents to the afternoon high. I believe corn is correcting from the entire previous up move. The recent low is very close to the 62% Fibonacci retracement level and often times the grains will print a significant high or low on or around USDA report days.

support - 416.25, 409.00

resistance - 423.00, 430.50

March SRW Wheat marked its low price 2 ticks above the 506.50 support point, then rallied about 6.75 cents into the late morning high print.

support - 507.00, 498.00

resistance - 514.50, 528.00

March HRW Wheat marked the low price 5 ticks beneath the 520.00 bracket support number, after selling down about 9.00 cents from the open/high print.

support - 516.00-515.00, 510.50

resistance - 528.00, 545.00

March Spring Wheat marked its low price 1 tick below the 565.00 support number, after a sell off of about 6.00 cents from the early morning high price print.

support - 564.00, 561.00

resistance - 571.00, 577.50

New Crop Grains:

When pricing new crop corn and beans during the growing season, you should always sell 100% of the bushels in the December corn or the November soybean contracts because as the new crop gets made, those contracts will go down more than the deferred contracts.

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