Tech Guy Opening Calls & Comments 4/28/25

July Wheat - 1.75 Higher

July Corn - 0.50 Higher

July Soymeal - Steady

July Beans - 0.75 Lower

June Crude Oil marked it's low 2 ticks below the 61.50 support level, after selling off about $2.50 from high to low. Trade is stuck in a range building energy and it will eventually break out in one direction.

support - 61.50, 60.45

resistance - 64.00, 64.85

July Soybeans marked it's low 2.50 cents above the 1048.00 support price, after selling off about 16.00 cents from the early morning high to the low. Next, beans rallied about 9.50 cents back up.

support - 1055.50, 1048.00-1046.00

resistance - 1070.00, 1082.00

July Corn marked it's low 2.75 cents below the 479.00 support level, after selling down about 7.00 cents from last night's opening high to low. Then, corn rallied about 9.00 cents to mark a new high for the day.

support - 480.00, 476.00

resistance - 487.50-491.00, 496.50

July SRW Wheat blew out more sell stops and violated support by a large amount.

support - 529.50-527.00, 517.00

resistance - 538.50 - old support becomes new resistance, 545.00

July HRW Wheat sold off 10.75 on the day, testing old support levels in the 536.00-535.00 region.

support - 537.50, 534.00

resistance - 548.00, 555.00

July Spring Wheat lost 9.50 cents for the trading session, testing old lows/support in the 593.50 area.

support - 593.00, 588.50

resistance - 614.50, 622.50

The grain contracts rolled from May to July over the weekend. This phenomenon can alter support and resistance because of the price disparity.

Vegetable Oil:

There are nine major vegetable oils in the world marketplace. Palm oil is the most widely traded vegetable oil, followed by soybean, canola (aka rapeseed), sunflower, palm kernel, peanut, cotton, coconut, and olive. Palm oil is considered the least healthy, canola the most healthy, but olive is the most tasty.

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