Tech Guy Opening Calls & Comments 4/2/25

May Wheat - 0.75 to 1.50 Lower

May Corn - 1.75 Lower

May Soymeal - 0.30 Higher

May Beans - 1.00-2.50 Lower

May Crude Oil marked it's low 1 tick above the 70.60 support level, then rallied about 1.70 to 3 ticks above the 72.25 resistance price.

support - 70.60, 70.00

resistance - 71.40, 72.30

May Soybeans marked the low 1.50 cents below the 1033.50 and level, then rallied about 7.50 cents low to high.

support - 1032.00-1030.50, 1024.00

resistance - 1040.00 - breakout, 1054.00

May Corn marked it's low 1.00 cent below the 455.00 support price, after selling down 6.75 cents high to low.

support - 456.00, 454.00

resistance - 465.00, 470.00

May SRW Wheat marked it's low 2 ticks below the 533.00 support price, then rallied 11.00 cents low to high.

support - 534.00, 531.50

resistance - 545.00, 550.00, 559.00

May HRW Wheat marked it's low 3 ticks above the 560.00 support level, then rallied about 11.50 cents low to high.

support - 563.00, 558.50

resistance - 573.50-576.00, 582.00

May Spring Wheat marked it's low 2.25 cents below the 590.00 support point, while trading down just 1.50 for the day.

support - 587.50, 582.00

resistance - 599.50, 610.00

There have been 6 Corn Belt wide droughts since 1900. 1934, 1936, 1980, 1983, 1988, and 2012. The 1980 drought was caused by the eruption of Mt. St. Helens in Southwest Washington on 18 May 1980.The 2012 drought was notable for its rapid development and widespread impact on the Corn Belt, causing significant economic losses.

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