Tech Guy Opening Calls & Comments 3/19/25

May Wheat - 0.50 Higher

May Corn - 0.50 Lower

May Soymeal - 0.25 Higher

May Beans - Steady

May Crude Oil marked it's low 9 cents above the 66.00 support level, then rallied about 1.40 to 8 cents past the 68.35 resistance price.

support - 66.05, 65.25

resistance - 67.55, 68.50

May Soybeans marked the low 1.50 cents above the 1005.00 support level, after selling off about 9.00 cents. Beans are forming a contracting triangle with lower highs and higher lows.

support - 1005.00-1003.00, 999.50

resistance - 1016.00, 1022.00

May Corn marked it's high on the stated 463.00 resistance price, after rallying about 6.50 cents from above support. Corn broke out higher from a downtrend line defining the upper edge of a triangle. Let's see if we have follow through buying.

support - 460.50, 458.25, 456.50

resistance - 465.50, 470.00, 478.00

May SRW Wheat marked it's low into the gap at 558.00, then rallied about a dime from low to high.

support - 560.00, 558.00, 555.00

resistance - 569.00, 575.00

May HRW Wheat marked it's low 3 ticks above the 591.00 support price - frontrunning - buying above support. Before the low was printed, hard wheat sold off about 13.50 cents from the early morning high.

support - 591.00, 587.00

resistance - 605.50, 617.50

May Spring Wheat marked it's low 2.75 cents below the 609.00 support price, then rallied about 12.00 cents from low to high.

support - 609.25, 606.00, 600.00

resistance - 623.50, 632.50

Brazil’s soybean production has doubled in the last 20 years, but its corn production has tripled. Twenty-five years ago, Brazil was a net importer of corn. During the 2023-24 marketing year, for the first time ever, the U.S. was not the world’s leading corn exporter; Brazil was. What made Brazil the world’s number 2 corn producer? Asian Leaf Rust.

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