Tech Guy Opening Calls & Comments 11/3/25

Dec Wheat - 1.25 Higher

Dec Corn - 0.50 Higher to 0.75 Lower

Dec Bean Oil - 0.10 Higher

Jan Beans - Steady to 1.00 Lower

December Crude Oil marked its high price 10 cents above the 61.40 resistance level, then sold off about a buck from the high to the low.

support - 60.50, 60.00, 59.60

resistance - 61.50, 62.10, 62.60

January Soybeans marked the high price 4.75 cents above the 1131.00 resistance number, while gaining 19.25 cents on the day. There is a large gap overhead from June 2024 that spans about 21.00 cents from about 1134 to 1155.00 (near today's high) There should be resistance somewhere in that gap and some type of correction should occur. I did some Elliot wave analysis and beans should be close to completing an impulse wave. This would open the door for a longer term correction to happen.

support - 1114.50, 1070.00

resistance - 1135.00, 1155.00

December Corn marked its low price 1 tick below the 428.00 support number, then rallied about 7.00 cents, to a couple of cents below resistance.

support - 427.50, 426.00

resistance - 437.00, 442.50

December SRW Wheat marked its high 1.50 cents below the 546.50 resistance level, after rallying almost 14.00 cents from the morning low to the high price print.

support - 535.00, 531.00, 517.00

resistance - 546.50, 553.00

December HRW Wheat rallied 8.25 cents on the trading session, while marking the high in between the 2 stated resistance levels.

support - 525.00, 518.00

resistance - 538.00, 550.00

December Spring Wheat marked its high price 1.75 cents below the 561.50 resistance, after rallying 9.50 cents from the first stated support level bracket.

support - 554.50, 549.00

resistance - 561.00, 567.50

Chinese Hogs:

By far, China has more hogs than any country in the world with about 52 million head of sows producing about 735 million pigs a year. The USA has the second most sows with about 22 million head.

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