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Tech Guy Opening Calls & Comments 6/20/24

July Wheat - 0.50 Lower


July Corn - Steady


July Soymeal - 1.90 Higher


July Beans - 0.75 Higher


July Crude Oil traded up to within 8 cents of the 81.60 resistance.

support - 80.00

79.15

resistance - 81.52-81.60

83.35


July Soybeans traded down to old support in the 1156.00 (old low) vicinity.

support - 1154.75

1145.00

resistance - 1174.50

1182.50


July Soymeal sold off to test an old low to the left at 358.00. Per normal, the market overshot the mark by several ticks to stop more longs out.

support - 357.40

355.00

resistance - 363.00-364.50

367.00


July Corn was gunning for the June 5th low of 438.25, but did not make it today.

support - 438.00-439.00

435.50

resistance - 446.50

449.50, 452.00


July SRW Wheat marked it's low 2 ticks above the 565.00 support price, after selling off 11.50 cents on the day.

support - 569.00-565.00

548.00

resistance - 580.00

592.00, 600.00


July HRW Wheat marked it's low 5.25 cents below the 591.00 support level after selling 9.75 cents for the day.

support - 590.00

585.00, 580.00

resistance - 601.00

608.00, 616.00


July Spring Wheat marked it's low 1.25 cents above the 617.00 support level while selling 14 cents on the day.

support - 617.00

597.00


July S&P marked the low 15 points below the 5540 support price, after selling off 44 points high to support. The trading volume was above average on the day, with price marking all time highs, therefore we have to be on the lookout for a gap fill down at/to 5454.

support - 5509

5487, 5454

resistance - 5560

5588



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