Tech Guy Opening Calls & Comments 5/19/25

July Wheat - 0.75 Higher

July Corn - Steady to 1.00 Higher

July Soymeal - 0.10 Higher

July Beans - Steady

July Crude Oil marked it's high at the stated 62.70 resistance price, after rallying about 1.70 from the morning low to the high. Crude is currently trading in a sideways channel between 60.50 and 63.40.

support - 61.25, 60.50

resistance - 63.40, 64.00

July Soybeans marked the low 3 ticks above the 1045.00 support level, after selling off about a dime.

support - 1046.00-1045.00, 1042.00-1040.00

resistance - 1060.00, 1070.00

July Corn marked it's low at the stated 443.00 support price, then rallied about 6.50 cents to just above the first resistance. Corn marked a higher low by 1 tick today - this is mildly constructive.

support - 443.00, 438.50

resistance - 450.00, 459.00

July SRW Wheat marked it's high 2.00 cents above the 534.00 resistance price, after rallying about 11.00 cents low to high. Wheat marked a higher high and low today - constructive.

support - 525.50, 520.00

resistance - 539.00, 545.00

July HRW Wheat marked it's low 1 tick below the 530.00 resistance level, after rallying about 13.50 cents, from the low to the high. The longer hard wheat stays above 516.00, the better odds a solid low price is in place.

support - 516.00, 507.00

resistance - 530.00 - breakout higher, 545.00

July Spring Wheat marked it's high 3.75 cents above the 583.00 resistance price, after rallying 12.25 cents from low to high. Today accomplished a breakout above the 583.00 level.

support - 583.00, 579.00

resistance - 595.00, 606.00

Government's role:

Up until the mid-1980’s, grain production in the U.S. was heavily subsidized by the government to keep the price of food low for American consumers and to keep farmers farming. In the case of wheat, about 30% of the cost of production was paid for by U.S. government subsidies.

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