Tech Guy Opening Calls & Comments 3/24/26

May Wheat - 0.75 Lower

May Corn - 0.25 to 0.75 Lower

May Soymeal - 0.40 Higher

May Beans - 1.00 Lower

May Crude Oil broke through the 68.85 breakout resistance level, and rallied to a high of 69.33. The odds favor more upside at this juncture.

support - 68.75, 68.35

resistance - 69.35, 71.40

May Soybeans marked the low 3 ticks below the 1004.00 support price, while trade was confined to a 7.70-8.00 cent range (narrow).

support - 1006.00, 1003.00

resistance - 1010.50-1011.50, 1014.50

May Corn marked it's low 2.00 cents below the 461.50 support edge, then rallied 6.50 cents from low to high.

support - 462.00, 459.00

resistance - 470.00, 477.00

May SRW Wheat marked it's low 3 ticks below the 546.00 support level, after selling off almost 18.00 cents from last night's high to the low, and 10.25 cents for the day.

support - 545.00, 540.00

resistance - 563.50, 569.00

May HRW Wheat marked it's high 2.25 cents below the stated resistance price of 597.5, then sold off about 20.00 cents high to low.

support - 575.00-574.00, 565.00

resistance - 591.00, 596.50, 605.00

May Spring Wheat marked it's low 4.50 cents below the 596.50 support point, while losing 12.25 cents on the session.

support - 592.00, 587.00

resistance - 600.00, 610.00

Interesting tidbit:

Up until the mid-1980’s, grain production in the U.S. was heavily subsidized by the government to keep the price of food low for American consumers and to keep farmers farming. In the case of wheat, about 30% of the cost of production was paid for by U.S. government subsidies.

For more pertinent news and fundamental grain market information, sign-up for a 30 day, no cost, no obligation, no phone call subscription to Wright on the Market news sent to your email every day before you get out of bed. Click on "subscribe" at: https://www.wrightonthemarket.com/