Tech Guy Opening Calls & Comments 4/16/25

May Wheat - 0.25 Lower

May Corn - Steady to 1 Lower

May Soymeal - 0.10 Higher

May Beans - Steady to 0.50 Lower

May Crude Oil managed to breakout higher with the odds, as expected, from the triangle and closed above the 62.60 resistance level. Strength is the word for now.

support - 62.00, 60.40

resistance - 63.30-63.80, 65.25

May Soybeans marked the low 2.00 cents below the 1030.00 support price, then rallied 17.75 cents low to high.

support - 1036.00, 1028.00

resistance - 1045.50, 1050.00 - breakout number, 1061.00

May Corn marked it's low 1.00 cent below the 480.00 support level, and only managed to rally about 7.00 cents from low to high.

support - 482.00, 478.50, 477.50

resistance - 490.00 breakout number, 497.00-500.00

May SRW Wheat marked it's low 3.00 cents below the 540.00 support point, then rallied about a dime from that support number to the high.

support - 536.50, 532.50

resistance - 552.00, 557.00, 565.00

May HRW Wheat marked it's low 2.00 cents below the 550.00 support level, then rallied about 12.50 cents from that support number to the high.

support - 555.00, 548.00

resistance - 565.00, 576.00

May Spring Wheat marked it's low 1.25 cents below the bracket support price of 598.50, then rallied 11.50 cents from support to the stated resistance level of 610.00.

support - 600.50, 596.50

resistance - 610.00, 619.00-623.50

More history:

The Morrill Act of 1862 was signed into law by President Lincoln on 2 July 1862. It granted each state 30,000 acres blocks of federal land for each of its electoral votes. States were to sell this land to raise money to fund colleges that would focus on teaching agriculture and mechanical developments. These colleges became known as “Land Grant” colleges. These schools were also required to teach military tactics, which were designated as the Reserve Officer Training Corps (ROTC) in 1916.

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