Tech Guy Opening Calls & Comments 5/15/25

July Wheat - Steady to 0.75 Lower

July Corn - 1.00 Higher to 1.00 Lower

July Soymeal - 0.60 Higher

July Beans - 1.25 Higher

June Crude Oil lost 1.50 on the day, slipping below nearby support levels and testing old support near 60.50

support - 60.50-60.20, 60.00

resistance - 63.00, 64.00

July Soybeans gapped down last night on the open, and sold off 24.50 cents on the day, visiting old support prices.

support - 1046.00, 1037.00

resistance - 1069.50, 1076.00, 1082.00

July Corn marked it's high 2.50 cents above the 448.00 resistance level, after rallying about 7.50 cents from low to high.

support - 443.50, 438.25

resistance - 452.00, 460.00

July SRW Wheat marked it's low 1.75 cents above the 520.00 support price, then rallied about 11.00 cents from low to high.

support - 524.00, 521.50-520.00

resistance - 538.50, 545.00

July HRW Wheat marked it's high 2.25 cents below the 531.50 resistance level, after rallying about a dime from low to high.

support - 520.00, 515.00

resistance - 530.00, 535.00

July Spring Wheat marked it's low 3 ticks below the 574.00 support price, then rallied 9.00 cents from low to high.

support - 580.00, 575.00

resistance - 584.00 - breakout, 595.00

Brazil Production:

To control Asian Leaf Rust (ALR), Brazil’s government forbids soybeans to be planted during a 90 day period during the dry season and each state has added a further “no planting” soybeans as a second crop starting generally from late December to mid-January. This is to not provide soybean plants to serve as a host for the ALR spores in the latter half of the growing season and into the dry season. This "no plant zone" is the major ALR control measure. Corn became the preferred second crop which led to Brazil being the largest corn exporter in the world in the 2023-204 marketing year. That was the first year the U.S. was not the world's largest corn exporter.

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