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Tech Guy Opening Calls & Comments 6/4/24

July Wheat - 0.25 Lower


July Corn - 0.25 Lower


July Soymeal - 0.10 Lower


July Beans - 1.00 Lower


I agree with Roger that the risk premium has been removed from these grain markets. Therefore, I think these down moves are short term correctional, as opposed to them being another down leg on the daily and weekly charts.


July Crude Oil marked the low 8 cents above the 72.40 support, after selling off about 1.50.

support - 72.40

71.40

resistance - 76.20

77.60


July Soybeans marked the low 4 cents below the 1180 support.

support - 1178.50

1162.00

resistance - 1189.50

1200.00


July Soymeal marked the low 2.20 above the 352.50 support.

support - 352.50

350.00

resistance - 364.00

368.00


July Corn marked it's low 1 cent above the 439.00 support, then rallied 8 cents.

support - 440.00

435.50

resistance - 449.00

454.00


July SRW Wheat marked it's low 7 cents below stated support.

support - 657.50

650.00

resistance - 682.00

698.50


July HRW Wheat marked it's low 3.75 below the 690.00 support level, after selling off from 705.00.

support - 686.25

678.00

resistance - 700.00-705.00

728.50


July Spring Wheat marked the low 2.50 cents below the 723.50 support level, after selling off from 736.50.

support - 721.00

711.00

resistance - 736.00

756.00


June S&P marked it's high 3 ticks below the 5313 resistance, after rallying about 50 points.

support - 5260

5245

resistance - 5313 - breakout

5340



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