Tech Guy Opening Calls & Comments 6/3/25

July Wheat - Steady to 0.25 Lower

July Corn - Steady

July Soymeal - 0.20 Higher

July Beans - 1.00 Higher to 0.75 Lower

July Crude Oil marked it's high 36 cents below the 64.25 resistance level, after rallying about 1.50 from the low of 62.40 to the high.

support - 62.20, 61.00

resistance - 63.90-64.25, 65.00

July Soybeans marked it's low 1 tick above the 1032.50 support number, then rallied about 11.00 cents.

support - 1035.50, 1032.50

resistance - 1045.00, 1053.00

July Corn continued selling off and marked it's low 3 ticks beneath the 435.00 support price, then rallied about 8.00 cents low to high.

support - 436.25, 434.25, 427.50

resistance - 451.00, 463.00

July SRW Wheat marked it's low 3 ticks above the 531.00 support level, then rallied about 13.50 cents from low to high. I believe wheat is continuing to consolidate before another leg higher.

support - 532.00, 526.50

resistance - 546.00, 552.00

July HRW Wheat marked it's low at the 530.00 support price, then rallied 15.00 cents from low to high. Hard wheat is the stronger between hard and soft.

support - 529.00, 523.50

resistance - 545.00, 551.00

July Spring Wheat marked it's low 1.25 cents below the 617.50 support number, after selling off exactly a dime from high to low.

support - 611.00, 605.00

resistance - 626.50, 635.00

Drought:

There have been 6 Corn Belt wide droughts since 1900. They were in 1934, 1936, 1980, 1983, 1988, and 2012. The drought in 1980 was caused by the eruption of Mt. St. Helens in Southwest Washington on 18 May 1980.

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