Tech Guy Opening Calls & Comments 5/21/25

July Wheat - 1.25 Lower

July Corn - Steady to 1.25 Lower

July Soymeal - Steady

July Beans - Steady

July Crude Oil faked an upside breakout, reversed down and marked the low 22 cents below the 61.50 support level, after selling off almost 3.00 bucks from high to low. This could be the start of a downside breakout if the 62.10 resistance holds price back.

support - 60.50-60.20, 58.75

resistance - 62.10, 63.40

July Soybeans broke through the 1060.00 resistance level, on the way to a close that was up 8.75 for the day. 1060.00 now becomes first support.

support - 1060.00, 1055.00, 1048.00

resistance - 1074.00-1076.00, 1080.00-1082.00

July Corn marked it's high at 462, which was within the resistance bracket, after rallying about 8.50 cents from low to high.

support - 458.75, 453.50

resistance - 468.00, 477.50

July SRW Wheat marked it's high 1 tick above the 556.00 upper bracket resistance level, after rallying about 11.00 cents from low to high.

support - 545.00, 536.00

resistance - 557.00 - breakout, 575.60

July HRW Wheat marked it's high 1 tick below the 548 resistance price, after rallying almost 13.00 cents from low to high.

support - 534.00, 530.00

resistance - 548.00 - breakout, 570.00

July Spring Wheat marked it's high 4.00 cents above the 607.00 resistance level, after rallying 14.00 cents from low to high.

support - 597.50, 592.00

resistance - 611.00, 617.00, 627.00

Soviets cont'd:

The Soviets bought 10 million mts of wheat 30% below the cost of production, thanks to U.S. taxpayers. “The Great Train Robbery” in England in 1963 netted robbers over £2.6 million, equivalent of over £80 million today. The Soviet wheat deal of 1973 became known as “The Great Grain Robbery” as U.S. taxpayers and consumers paid for the subsidy that benefitted the Soviet Union and then had to pay 30% more for wheat flour.

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/