Tech Guy Opening Calls & Comments 5/4/25

July Wheat - Steady to 0.75 Higher

July Care - Steady

July Soymeal - Steady

July Beans - Steady to 1.00 Lower

Crude price - 56.35, down 1.94

S&P price -

June Crude Oil marked it's low 4 ticks above the 57.70 support level, after selling off a tidbit more than 2 bucks from the overnight high to the session low.

support - 57.70, 56.35

resistance - 59.00-59.35, 60.10

July Soybeans marked the high 2 ticks beyond the 1061.50 resistance price, after rallying about 12.50 cents from the low/opening to the high.

support - 1050.50, 1041.00

resistance - 1064.00, 1080.00

July Corn marked it's low 3 ticks above the 467.50 support level, after selling off about 9.00 cents from the morning high to the low.

support - 467.50, 463.00

resistance - 478.00, 483.50

July SRW Wheat marked it's high 1.75 cents above the 545.00 resistance price, after rallying about 17.00 cents from low to high.

support - 539.50, 533.00

resistance - 549.00, 556.00

July HRW Wheat also rallied right out of the gate on Thursday night's open, moving up about 17.00 cents from low to high, and closing 1 tick above the 541.50 resistance mark.

support - 537.00, 530.00

resistance - 550.00, 555.00, 563.00

July Spring Wheat marked it's low 1.75 cents below the 592.00 support price, then rallied 22.50 cents for the day, and broke out higher from it's bottom formation.

support - 605.50, 601.00

resistance - 614.50, 623.00

Govt. Reports:

On or about the tenth of every month the USDA issues its World Agricultural Supply & Demand Estimates (WASDE) Report. It is the cornerstone of information for agricultural markets for traders, investors, consumers and farmers navigating the complex world of agricultural markets.

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/