Tech Guy Opening Calls & Comments 7/2/25

Sep Wheat - Steady

Dec Corn - 0.25 Lower

Dec Bean Oil - 0.03 Higher

Nov Beans - 0.25 Lower

Summer panic rallies average about 2 weeks in length. Keep your eye on the calendar around the July 16th date.

August Crude Oil Marked it's high above the upper resistance level and rallied 1.93 to 67.38 for the day. This price action was a technical breakout higher from the narrow sideways channel. Tomorrow's trade will tell us if breakout is true, or if it is a fake out.

support - 67.15-67.20, 66.30

resistance - 69.00, 71.40

November Soybeans marked it's high 1.50 cents below the 1050.00 resistance number, after rallying about 23.50 cents from the low to the high print.

support - 1038.00, 1030.00

resistance - 1050.00, 1060.00, 1067.50

December Corn marked it's low 1.50 cents above the 416.50 support level, then rallied about 17.50 cents from low to high, while closing 3.75 cents above the 430.00 resistance price - this now becomes support.

support - 430.00-429.00, 424.00

resistance - 434.00, 439.00

September SRW Wheat marked it's low 1 tick above the 544.50 support point, then rallied about 20.00 cents from low to the high print. The close was 3.00 cents above the highest resistance number of 562.00. Resistance becomes support.

support - 560.50-559.00, 556.50

resistance - 565.50, 572.50, 586.00

September HRW Wheat marked it's high at the stated resistance number of 543.50, after rallying about 15.00 cents from low to high.

support - 540.00, 533.50

resistance - 548.00, 552.00, 561.50

September Spring Wheat gained 20.50 cents on the day, while closing 1.00 cent above the 647.00 resistance level.

support - 646.00-643.00, 638.00

resistance - 659.00, 665.50, 682.00

In the grain trade, ABCD refers to ADM, Bunge, Cargill, and Louis Dreyfus Company. These four multinational companies control 90% of the global grain trade, plus a considerable portion of the food processing chain. Collectively known as the ABCD companies, they may not be as recognizable as the big four oil or tech names but approach them in their economic clout. Cargill is, by far, the largest grain company of the four and it is the largest privately held company in the U.S. and probably the world.

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