Tech Guy Opening Calls & Comments 5/5/25

July Wheat - Steady to 0.25 Higher

July Corn - 1.00 Higher to 1.00 Lower

July Soymeal - 0.70 Higher

July Beans = Steady to o.75 Higher

June Crude Oil gapped down about 2.50 on the open last night, and has since recovered about half of the down move, almost filling the gap.

support - 56.50, 55.30

resistance - 58.35, 59.50

July Soybeans marked the low 3.25 cents above the 1041.00 support level, while selling off about 13.00 cents from high to low price.

support - 1045.00, 1041.00

resistance - 1050.00, 1057.50

July Corn had a major selloff today, blowing through sell stops and current support prices, and testing old support at about the 454.00 level. The loss for the day was 14.75 cents.

support - 453.25, 449.00

resistance - 467.50, 477.00

July SRW Wheat marked it's low 2.00 cents above the 533.00 support price, after selling off about 17.50 cents from the high to the low.

support - 528.00-526.00, 522.00

resistance - 541.00, 548.00

July HRW Wheat marked it's low 3 ticks above the 530.00 support level, after selling down about 17.00 cents from the high/open to the low price.

support - 530.25, 524.00

resistance - 539.00, 547.00

July Spring Wheat marked it's low 3 ticks above the 605.50 support point, after selling off 10.50 cents from about 1.50 cents above the 614.50 resistance price to the low.

support - 606.00-605.00, 601.00

resistance - 617.00, 626.00

Monthly reports:

On its monthly World Agricultural Supply & Demand Estimates (WASDE) Report, the USDA compiles data from around the world, offering a global perspective on agricultural supply and demand dynamics.

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