Tech Guy Opening Calls & Comments 5/8/25

July Wheat - 0.25 Lower to 1.00 Higher

July Corn - Steady to 1.00 Higher

July Soymeal - 0.20 Higher

July Beans - Steady to 1.00 Lower

June Crude Oil was trading just below the 60.30 resistance level at the time of this writing, after rallying about 2.50 from last night's opening/low. The tendency will be higher first.

support - 58.80, 57.50

resistance - 60.30 - breakout, 61.70

July Soybeans marked the low 2 ticks above the 1036.00 support price on the open, then rallied about 12.00 cents into the daytime opening. Stuck in a range for now.

support - 1039.00, 1036.50

resistance - 1051.50, 1056.00

July Corn marked it's low 1 tick above the 442.00 support point, after selling off about a dime from the early morning high to the low. 442.00 is a major support number - should hold.

support - 445.25, 442.00

resistance - 452.00, 463.50

July SRW Wheat marked it's low 2.50 cents below the 528.00 support level, after selling off about 13.00 cents from the early morning high to the low.

support - 528.00, 523.50

resistance - 535.00, 541.00

July HRW Wheat marked it's low 1 tick from the 520.00 support price, after falling almost a dime from high to low.

support - 522.50, 520.00

resistance - 535.00, 545.00

July Spring Wheat marked it's low 2.00 cents above the 596.00 support price, after selling down 9.00 cents from high to low. All the wheats printed lows at major support areas. Tendency to hold.

support - 598.00, 590.00

resistance - 610.00, 617.00, 623.00

Price:

The job of the market is to make sure we never run out of any food or fiber commodity. The market does that with higher prices to ration demand in times of small supplies.

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