Tech Guy Opening Calls & Comments 2/19/25

March Wheat - Steady

March Corn - 0.50 Higher to 1.50 Lower

March Soymeal - Steady

March Beans - Steady to 0.50 Higher

April Crude Oil marked it's high 21 cents beyond the 72.70 resistance level, after rallying about 1.20 from last night's low/opening. I count 5 waves higher on this recent uptrend, therefore after backfilling some, another up leg is the most likely scenario.

support - 71.40, 70.80

resistance - 73.00, 73.70

March Soybeans marked the low almost directly in between the 2 stated support prices at 1034.25 and 1026.00, after selling off about 18 cents high to low.

support - 1023.50, 1018.00

resistance - 1047.50, 1058.00

March Soymeal marked it's high at the stated resistance of 298.00, after rallying 6.00 bucks from the low.

support - 291.50, 290.00

resistance - 298.00, 301.00

March Corn reversed lower on minor resistance in the 504.00 area that I missed, then sold off 6.25 cents to a few ticks within the 496.75 support level.

support - 493.25-492.25, 505.00 in the May contract.

resistance - 505.00, 510.00, 519.00 in the May

March SRW Wheat sold off about 19 cents high to low, to 7.00 cents below the 595.50 support price.

support - 584.50, 571.00

resistance 603.00, 610.00

March HRW Wheat closed 3 ticks below the 615.50 support price, after selling off 12.50 on the day.

support - 608.00, 604.00-602.00

resistance - 622.00, 625.00

March Spring Wheat marked it's low 3.75 cents below the 634.50 support point, then closed 1.00 cent below it.

support - 629.00, 622.50

resistance - 645.00, 656.00

March S&P marked it's low about 6 bucks below the 6135 support price, then rallied about 36 bucks to 6166.50, which is a new high.

support - 6140, 6118

resistance - new highs