Tech Guy Opening Calls & Comments 3/13/25

May Wheat - 0.50 Lower

May Corn - 0.75 Lower

May Soymeal - 0.50 Lower

May Beans - Steady to 1.25 Lower

April Crude Oil marked it's low 22 cents above the 66.15 support level, after selling off about 1.50 from the high to low. Expect crude trade to remain rangebound until a larger force kicks it one way or the other.

support - 66.30, 65.20

resistance - 68.00-68.20, 68.60

May Soybeans rallied 8.50 cents on the day, while marking it's high in between the 2 given resistance prices of 1010.00 and 1022.00, and closing at 1009.00. As seen here, support or resistance numbers can also be a magnet for a close price.

support - 1006.00, 996.00

resistance - 1018.00-1022.00, 1033.00

May Corn marked it's low/open 1.00 cent above the 458.00 support level, then rallied about 11.00 cents to the 470.00 high.

support - 463.50, 460.00, 456.00

resistance - 478.00, 484.00

May SRW Wheat marked it's high 1 tick above the 566.50 resistance threshold, after rallying about 11.50 cents from low to high.

support - 559.50, 554.50

resistance - 567.00, 570,00, 593.00

May HRW Wheat once again gapped up last night from the afternoon close, then rallied 15.00 cents on the trading session, closing within 3.00 cents of the high and marking the high on the 591.00 resistance level. This is the 2nd time since Sunday night that the hard wheat buyers are showing an eagerness with these gaps.

support - 583.50, 576.00

resistance - 602.00, 612.00

May Spring Wheat marked it's high 1.00 cent from the 610.00 resistance price, after rallying 14.00 cents low to high.

support - 600.50, 591.00

resistance - 620.00, 632.00

There are nine major vegetable oils in the world marketplace. Palm oil is the most widely traded vegetable oil, followed by soybean, canola (aka rapeseed), sunflower, palm kernel, peanut, cotton, coconut, and olive. Palm oil is considered the least healthy, canola the most healthy, but olive is the most tasty.

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