Tech Guy Opening Calls & Comments 2/25/25

May Wheat - 1.25 Higher

May Corn - 0.25 Higher

May Soymeal - 0.25 Lower

May Beans - 1.00 Lower

April Crude Oil Had very little follow through buying, in fact, just enough to mark the high 6 cents above the 71.20 stated resistance level. After this, crude sold off about 2.50 to below the 69.40 support price - very weak market. Keep selling the rallies.

support - 68.40 - 30 cents below today's low, 67.70

resistance - 69.60-6985, 70.50

May Soybeans marked the low 1.25 cents above the 1036.00 support level, after selling off about 17 cents from the overnight high near 1053.

support - 1043.50, 1036.00

resistance - 1053.50, 1062.00

May Soymeal briefly broke down below the 2 week trading range, then fund buyers gobbled every offer they could, causing prices to climb. Then, meal closed above the 300.70 support point. This price pattern is called a fakeout/shakeout - trapping sellers in a bear trap.

support - 302.00-301.00

resistance - 306.00 - upside breakout from trading range, 309.00

May Corn briefly broke below the 490.00 support price, then abruptly reversed higher. The March contract traded to 474.25, which is 1.25 cents below the May 14th high. This is neckline support on the weekly chart that prints price on the chart until expiration.

support - 492.00, 488.00

resistance - 504.00, 514.00

May SRW Wheat also appears to have put in a good low today. It capitulated about a nickel below the 585.00 support, but closed 3.75 cents above this mark.

support - 584.50, 579.00

resistance - 596.00, 608.00

May HRW Wheat marked it's low 1.00 cent above the 597.50 support price, after selling off about 14.50 cents from the overnight highs.

support - 602.50, 598.50

resistance - 615.00, 624.00

May Spring Wheat marked it's low 2 ticks above the 626.00 support level, after selling down about 16.00 cents from high to low.

support - 629.00-627.75, 623.00

resistance - 642.50, 653.00

Hard wheat is used for bread and soft wheat is used for pastries. When one chews a small handful of wheat, within a matter of minutes, a wad of gum is left in one's mouth. That is a protein called gluten. Hard wheat has a higher gluten content than soft wheat. That is why cookies and cake have more crumbs than bread

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