Tech Guy Opening Calls & Comments 3/27/25

May Wheat - 0.25 Lower

May Corn - Steady

May Soymeal - 0.50 Higher

May Beans - 0.75 Lower

May Crude Oil painted a narrow range, inside day on the daily bar chart. This is contraction and energy building for a likely expansion day either way tomorrow.

support - 69.10, 68.50

resistance - 70.20, 70.60, 71.30

May Soybeans marked the low 1 tick below the 1000.00 support level, then rallied about 17.50 cents low to high to 3 ticks past the 1017.00 resistance price. This price action is an upside breakout and should be the start of an up move.

support - 1010.00, 1007.00

resistance - 1022.00, 1033.00

May Corn marked it's low 1.25 cents below the 448.50 support point on very heavy volume, after selling off about 5.50 cents from the morning high. The first 30 minutes of the session traded the most volume out of the last 2 weeks. Trading 2.50 cents lower than yesterday does not negate this bottom being carved out. Traders figured why not take out some more sell stops for energy .

support - 447.75, 442.00

resistance - 453.00, 457.50, 461.00

May SRW Wheat marked it's low 3.50 cents below the 530.00 support price, which tested the low from March 4th. The trade range was about 11.00 cents high to low. The first 2.5 hours of the session, including while the low was printed, occurred on exceptional volume.

support - 530.00-528.75, 525.50

resistance - 537.50, 545.00, 550.00

May HRW Wheat marked it's low about 2.75 cents below yesterday's low at 560.00, which was in between the 2 stated support levels. The KC wheat chart has a more bullish structure than soft wheat.

support - 562.25-560.00, 556.00

resistance - 573.00, 582.00, 591.00

May Spring Wheat marked it's low 1.00 cent below the 585.00 support price, then rallied 8.25 cents low to high.

support - 585.00, 581.50

resistance - 600.00, 610.00

More Russian history:

The Soviet Union asked in June 1972 to buy a large amount of U.S. wheat on a three-year deal. An agreement was made for the U.S. to sell the Soviet Union 10 million mts (364 million bushels) of wheat over the next three years. However, the entire tonnage was purchased by the Soviets in July and August 1972 from the ABCD companies. Since the U.S. government was not tracking the export sales and shipments of U.S. food and fiber exports, very suddenly, there was not enough wheat to meet the domestic demand. The price of wheat jumped 30% for American consumers.The Soviet Union asked in June 1972 to buy a large amount of U.S. wheat on a three-year deal. An agreement was made for the U.S. to sell the Soviet Union 10 million mts (364 million bushels) of wheat over the next three years. However, the entire tonnage was purchased by the Soviets in July and August 1972 from the ABCD companies. Since the U.S. government was not tracking the export sales and shipments of U.S. food and fiber exports, very suddenly, there was not enough wheat to meet the domestic demand. The price of wheat jumped 30% for American consumers.

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