Tech Guy Opening Calls & Comments 5/6/25

July Wheat - Steady to 1.00 Lower

July Corn - Steady

July Soymeal - Steady to 0.50 Lower

July Beans - Steady to 1.50 Lower

June Crude Oil marked it's high 34 cents above the 59.50 resistance level, after rallying about 2.80 from low to high - strong day!

support - 58.25, 57.60

resistance - 59.85-60.20, 61.30

July Soybeans marked it's low 4.50 cents below the 1041.00 support price, trading down to test an old low at about 1037.00, after selling off about 9.50 cents from the open/high down to the low print.

support - 1038.50-1036.50, 1030.00

resistance - 1046.00, 1052.50

July Corn marked it's low 3 ticks below the 453.25 support price after selling off about a nickel from high to low.

support - 452.00, 448.00

resistance - 458.00, 467.50

July SRW Wheat marked it's low 1 tick above the 528.00 bracket support level, then rallied about 10.50 cents from low to high.

support - 532.25, 528.00

resistance - 541.00, 547.00

July HRW Wheat marked it's low 1.00 cent below the 530.25 support price, then rallied about 9.50 cents.

support -531.00-529.25, 524.59

resistance - 546.00-548.00, 555.00

July Spring Wheat marked it's low 1.25 cents above the 601.00 support price, after selling off about 14.50 cents from 1 tick below the 617.00 resistance level high to the low.

support - 604.50-602.00, 596.00

resistance - 617.00, 627.00

Reporting process:

The USDA spends more money, by far, to collect crop and livestock production data than any other organization in the world. The purpose is to make sure the U.S. does not run out of any food or fiber commodity.

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