Tech Guy Opening Calls & Comments 5/1/24

July Wheat - 0.25 Higher

July Corn - 1.00 Lower

July Soymeal - 0.50 Higher

July Beans - 0.75 Lower

June Crude Oil marked the low 47 cents below the 80.30 support level, after selling off almost 2.50 from the highs. The downtrend since last Friday has been very bumpy, so there will be several corrections on the next rally = more opportunity.

support - 79.00-78.60

77.35

resistance - 81.60

82.45

July Soybeans marked the low 5 cents below the 1161.00 support price, then rallied a dime from 1161.00

support - 1165.00-1162.00

1155.00

resistance - 1184.00

1190.50

July Soymeal marked it's low 1.70 below the 347.00 support level, then rallied 5 bucks from the low.

support - 347.40

345.20

resistance - 353.30

361.50

July Corn marked the low 1 tick below the 444.00 support price, then rallied 7 cents.

support - 448.00

446.75

resistance - 454.25

471.00

July SRW Wheat marked it's low 2 ticks above the 593.00 support level, after selling off 15 cents.

support - 596.00

591.75

resistance - 609.00

624.00

July HRW Wheat marked the low 1.75 cents above the 621.00 support price, after selling off about 13 cents high to low.

support - 620.75

612.50

resistance - 637.50

650.00

July Spring Wheat marked it's low 1.50 cents below the 700.00 support level on what was another very small range day - energy building.

support - 700.00

696.00

resistance - 710.00

717.50

June S&P marked it's high 16 points from the 5111 resistance price, then sold off 60 points from 5111 - 3.75 to 1 reward to risk.

support - 5022

4964

resistance - 5126

5170

July Cocoa:

support - 7200-6900

resistance - 9650-9850