Tech Guy Opening Calls & Comments 4/29/25

July Wheat - 0.75 Lower

July Corn - 0.50 to 1.00 Higher

July Soymeal - Steady

July Beans - 0.25 to 0.75 Lower

June Crude Oil broke out to the downside, closing below the 60.45 support level, and losing 1.81 for the day at the time of this writing. The trend should continue down at this juncture.

support/targets - 59.40, 58.70, 55.00

resistance - 61.15, 62.00

July Soybeans marked the low 1 tick below the 1046.00 support level, after selling off approximately 17.50 cents from last night's high to the low.

support - 1049.00, 1045.00,

resistance - 1061.50-1064.00, 1082.00

July Corn blew past support in a long liquidation event, and tested the old low around the 470.00 level, selling off about 15.00 cents from high to low.

support - 469.50, 465.50

resistance - 474.50, 486.00

July SRW Wheat also experienced more selling and marked it's low about 4.00 cents below the 527.00 support price, after selling off about 14.00 cents from the early morning high to the lows.

support - 523.00, 517.00

resistance - 537.50, 545.00

July HRW Wheat marked it's low 4.00 cents below the 534.00 support level, after selling down about 14.00 cents from the early morning high to the lows of the day.

support - 529.50, 519.00

resistance - 544.00, 548.00

July Spring Wheat marked it's low 1.00 cent below the 593.00 support price, after selling off 13.75 cents from high to low.

support - 592.00, 588.50

resistance - 605.50, 615.00

Canola:

The canola market is unlike any other market in that Canada and the EU produce about half of the world's canola. Canada exports most of its canola or canola oil while the EU exports very little. China is the world's third largest producer of canola, uses all of it and imports canola primarily from Canada if politics do not get in the way.

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