Tech Guy Opening Calls & Comments 10/7/25

Dec Wheat - 0.25 Lower

Dec Corn - 0.25 Lower

Dec Bean Oil - 0.10 Higher

Nov Beans - 0.50 Lower

November Crude Oil marked its low price 28 cents below the 61.00 support level, then rallied about 1.35 Dollars from the low to the high price print.

support - 61.40, 60.70

resistance - 62.50, 63.30

November Soybeans marked the high price 1.50 cents beyond the 1024.00 resistance number, after rallying about 9.50 cents from the low to the high print.

support - 1013.00, 1008.00

resistance - 1028.00, 1035.00

December Corn marked its high price 2 ticks above the 424.00 resistance level, then sold off about 5.50 cents from the high to the low print.

support - 418.50, 414.50

resistance - 426.00, 429.00

December SRW Wheat marked its low price 2.25 cents below the 508.00 support number, after selling down about 9.75 cents from the high to the low price print.

support - 505.50, 502.00, 498.00

resistance - 510.00, 514.50

December HRW Wheat marked its low price halfway in between the 2 stated support numbers of 493.50 and 488.00, after selling off about 7.25 cents from the high to the low print.

support - 490.50, 488.00

resistance - 498.00-499.50, 502.50

December Spring Wheat sold off 4.50 to 552.00 for the trading session, which was 3.00 cents below the 555.00 support number. Price may be headed to test the weekly low at 542.00, unless the fund buyers really step in here.

Even though it's only an intraday bar, there was some strong buyers who entered the market during the last 10 minutes of trade.

support - 551.00, 542.00

resistance - 556.50, 564.00

Brazil, part 1:

Brazil’s soybean production has doubled in the last 20 years, but its corn production has tripled. Twenty-five years ago, Brazil was a net importer of corn. During the 2023-24 marketing year, for the first time ever, the U.S. was not the world’s leading corn exporter; Brazil was. What made Brazil the world’s number 2 corn producer? Asian Leaf Rust.

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