Tech Guy Opening Calls & Comments 5/13/25

July Wheat - 0.75 Higher

July Corn - 0.50 Higher

July Soymeal - Steady

July Beans - 0.50 Higher

June Crude Oil marked it's high at 63.90, just above yesterday's high and within the resistance bracket.

support - 62.45, 61.60

resistance - 63.95, 64.90

July Soybeans marked the low 4.25 cents below the 1057.50 support level, then rallied about 22.00 cents from low to high.

support - 1069.00, 1053.00

resistance - 1087.00, 1132.00

July Corn broke support and tested and old support area at 436.50, after selling off about 11.50 cents from the evening high to the low.

support - 436.00, 428.00

resistance - 446.00, 458.50

July SRW Wheat marked it's low at 506.25, which was in between the 2 stated support numbers. Wheat rebounded from the low to rally about 14.00 cents from the low to the high, with a net gain of 2.50 cents for the day.

support - 512.00, 506.00

resistance - 520.00, 528.50

July HRW Wheat is marking lows not seen since 2020. Today traded to 500.25, which was about 7.00 cents below the stated support. It's difficult to be precise on the weekly bars.

support - 507.00-500.00, 470.00

resistance - 515.00, 525.00

July Spring Wheat marked it's low 3.25 cents below the 580.00 support level, and had a net loss of 3.25 cents on the day.

support - 578.00-576.50, 563.00

resistance - 590.00, 595.00, 598.50

History:

The Morrill Act of 1862 was signed into law by President Lincoln on 2 July 1862. It granted each state 30,000 acres blocks of federal land for each of its electoral votes. States were to sell this land to raise money to fund colleges that would focus on teaching agriculture and mechanical developments. These colleges became known as “Land Grant” colleges. These schools were also required to teach military tactics, which were designated as the Reserve Officer Training Corps (ROTC) in 1916.

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