Tech Guy Opening Calls & Comments 4/30/25

July Wheat - 1.00 to 1.50 Higher

July Corn - Steady

July Soymeal - 0.60 Lower

July Beans - Steady to 1.00 Lower

June Crude Oil lost 2.26 on the day at the time of this writing, falling below the 58.70 target and trading all the way down to a low of 57.91. After that, crude bounced up and the old support became resistance.

support - 56.35, 55.12

resistance - 60.15, 61.10

July Soybeans had heavy selling and pushed below support. After the early selling, beans were able to attract buyers and trade bounced up close to the 1049 node, which now becomes resistance.

support - 1040.50-1038.50, 1034.00

resistance - 1049.00, 1055.00

July Corn marked it's low 1 penny below the 469.50 support level, then rallied about 9.00 cents from low to high.

support - 472.00, 468.50

resistance - 480.00, 485.50

July SRW Wheat marked it's low 1 tick above the 523.00 support price, then rallied about 17.00 cents.

support - 529.00, 523.00

resistance - 540.00, 544.50

July HRW Wheat marked it's low 2.25 cents below the 529.50 support level, then rallied almost 13.00 cents from low to high. Selling pressure was strong at the highs, and hard wheat took back 11.50 cents, closing near the low.

support - 527.00-526.00, 519.00

resistance - 534.50, 542.00

July Spring Wheat marked it's low 1 tick above the 592.00 support price near the open, then rallied 9.00 cents from low to high.

support - 594.00-592.00, 588.50

resistance - 601.50, 606.00, 615.00

Wheat:

Hard wheat is used for bread and soft wheat is used for pastries. When one chews a small handful of wheat, within a matter of minutes, a wad of gum is left in one's mouth. That is a protein called gluten. Hard wheat has a higher gluten content than soft wheat. That is why cookies and cake have more crumbs than bread.

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