Tech Guy Opening Calls & Comments 5/12/25

July Wheat - 0.75 Lower

July Corn - Steady

July Soymeal - Steady

July Beans - 1.50 Lower

June Crude Oil marked it's high 36 cents above the top 63.25 resistance/target level, after rallying about 2.60 from last night's low to the daytime high.

support - 61.00, 60.20

resistance - 63.65-64.00, 64.85

July Soybeans gained 18.25 cents on the day, and closed 5.00 cents above the 1065.00 resistance price. Old resistance will become support.

support - 1065.00, 1057.50

resistance - 1075.00, 1080.00, 1089.00

July Corn marked it's low 1.25 cents below the 447.00 support point, after selling off about 13.00 cents from above resistance to the low.

support - 447.00, 442.00

resistance - 459.00, 464.00

July SRW Wheat marked a swing low 1.50 cents below the 517.00 support level last evening, then rallied about 12.00 cents into this mornings open, all before printing a lower low this afternoon. The close was 2.50 cents below the 517.00 support price.

support - 514.00, 501.00

resistance - 528.50, 534.00

July HRW Wheat marked it's low 2.25 cents below the 508.50 support price, after selling off about 18.00 cents from high to low.

support - 507.00, 470.00

resistance - 525.00, 528.50, 535.00

July Spring Wheat lost 9.50 cents for the day, closing directly at the 584.00 support price - 580.00, 563.00

resistance - 595.00, 604.00

History:

President Abraham Lincoln created the USDA on 15 May 1862 to support farmers who were growing the food to feed the civilians and the soldiers fighting to save the Union. Lincoln believed that agriculture was vital to a stable society, and he wanted to show the nation’s gratitude to the nation’s farmers with research and development of farm equipment and the best varieties for crop production through a structure for agricultural production education. Since more than half of America’s population were farmers, Lincoln called the USDA The People’s Department.

For more pertinent market news and fundamental grain information, sign-up for a 30 day, no cost, no obligation, no phone call subscription to Wright on the Market news sent to your email every day before you get out of bed. Click on "subscribe" at: https://www.wrightonthemarket.com/