Tech Guy Opening Calls & Comments 7/10/25

Sep Wheat - Steady

Dec Corn - 0.50 Lower

Dec Bean Oil - 0.07 Lower

Nov Beans - 0.25 Higher to 0.50 Lower

August Crude Oil marked it's low 35 cents above the 66.10 support level, after selling off more than 2 bucks from the high (below resistance) to the low print. Crude was trading in a slightly uptrending channel the past 7-10 days. Today, the lower line of the channel was broken. Momentum favors the downside.

support - 66.70, 66.15, 65.40

resistance - 67.45, 67.90

November Soybeans marked the low 4.25 cents below the 1006.60 node, then it rallied about 12.50 cents from low to high. There's a good chance today's low was an exhaustion to the downside from the news. Seems like the sellers dried up today.

support - 1010.00, 1002.00

resistance - 1021.50, 1030.00

December Corn marked it's low 1.25 cents below the 413.75 support price, then rallied about 4.50 cents from low to high.

support - 414.25, 411.50

resistance - 419.00-420.50, 427.50

September SRW Wheat marked it's low 3 ticks below the 541.75 support number, then rallied about 14.00 cents from low to high, which was close to the 2nd resistance point at the gap.

support - 547.50, 541.00

resistance - 556.00 - gap, 569.50

September HRW Wheat marked it's low 1.50 cents below the 520.50 support level, then rallied about 16.00 cents from low to high, to the upper resistance number of 535.00.

support - 526.00, 518.50

resistance - 536.00 - gap, 550.00

September Spring Wheat marked it's low 2 ticks above the 625.50 support number, after selling off 13.25 cents from the high to the low.

support - 627.50-625.50, 618.00

resistance - 639.50-641.00, 646.00

Russian History:

Russia is the world's leading exporter of wheat. About 70% of its wheat is winter wheat and 30% is spring wheat. Western Russia and Ukraine produced so much wheat before 1914, that area near the Black Sea was known as the "Bread Basket of the World." World War I ended crop production in the Black Sea area. The Great Plains of the U.S. were plowed-up to feed the world during the war.

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