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Tech Guy Opening Calls & Comments 2/4/25

Writer's picture: Tech GuyTech Guy

March Wheat - 0.25 Higher


March Corn - Steady to 1 Lower


March Soymeal - 0.20 t 0.40 Higher


March Beans - .50 Higher to 1.25 Lower


March Crude Oil marked it's low 18 cents below the 70.85 support level, then rallied about 2 bucks.

support - 72.00, 70.65

resistance - 73.50, 74.85


As I talked about on the Sunday comments, March Soybeans likely began the next up wave higher on Monday night's low, then surged higher again today, printing a new high for the move. The low was 1.75 cents below the 1050.00 support price, then it rallied 28-29 cents low to high.

support - 1070.00, 1065.00

resistance - 1087.50 - light, 1130.00-1150.00 - continuation gap


March Soymeal never tested support, and rallied 10.10 bucks on the day, to 313.80 - also filling the gap on the left chart.

support - 311.40-310.50

resistance - 317.30 - trendline, 325.50 - high to the left


March Corn eclipsed the trading volume from Friday and traded 671, 851 contracts yesterday. Corn did not test support and finished up 5.25 for the day, to 494.00.

support - 492.00, 488.00

resistance - 511.00, 525.00-531.00


March SRW Wheat marked it's low 2 ticks below the 558.50 support, then rallied about 20 cents low to high, while marking new highs for the move, as expected.

support - 570.50.00-569.00

resistance - 5 highs to the left - 580.50, 585.50, 591.00, 611.25, 617.25. This will likely cause much up and down intraday until it clears the 611.25 high.


March HRW Wheat also closed on new highs for the move.

support - 590.50, 584.00

resistance - 603.00, 625.00


March Spring Wheat marked it's low 2.75 cents below the 607.50 support, then snapped back up into it's trading range, and closed up 5.25 cents on the session.

support - 605.00, 611.00

resistance - 625.00 - breakout, 634.00


March S&P marked it's low 13 bucks below the 6000 support level, then rallied about 80 bucks.

support - 6018, 5984

resistance - 6070, 6150

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