Tech Guy Opening Calls & Comments 7/29/25

Sep Wheat - Steady

Dec Corn - 0.25 Higher to 0.25 Lower

Dec Bean Oil - 0.05 Lower

Nov Beans - Steady to 1.25 Lower

September Crude Oil blasted through nearby resistance levels, gaining 2.60 on the day, at the time of this writing, and it tested an old high price near 69.65.

support - 67.70, 66.50

resistance - 69.75 - a breakout above this, 71.50, 74.30

November Beans marked the low in between the 2 stated support levels, after selling off about 9.50 cents from high to low.

support - 1007.00-1006.00, 998.00

resistance - 1015.00, 1018.00, 1022.00 - lots of bumps left chart

December Corn marked it's low 3.25 cents below the 412.50 support number, after printing the high about 5.50 cents above the low. Huge volume traded on the low price bar, indicating the buyers are defending this area - less chance of another low.

support - 409.00, 407.00

resistance - 515.00, 420.00

September SRW Wheat sold off hard to older support prices, losing 8.75 cents, to the price of 529.75 on the day.

support - 528.25, 522.00

resistance - 539.00-540.00, 546.00

September HRW Wheat tested old support at the 515.00 price level, after selling off 7.75 cents to 518.25 on the day. I misjudged the weakness in the wheats.

support - 517.50, 506.00

resistance - 527.50-531.00, 538.00

September Spring Wheat lost 4.00 cents on the day to close at 576.75. Perhaps the old low at 563.50 is in the trade's sights. This selling could still a fake out, we have to give it one more day.

support - 563.50

resistance - 586.00, 595.50

Amazon river:

The Amazon River is the world's second-longest river and has more water volume, by far, than any other river in the world. Although it is 4,300 miles long (6,920 kilometers), there is not a single bridge across the mighty Amazon. Why?

During the rainy season, the Amazon width will expand from a relatively narrow quarter a mile or less to 2 to 5 miles wide. The jungle soil is humus deeper than anyone knows and is not fit to support bridge construction. Fortunately, not very many people live in the Amazon jungle and there is no financial benefit to building the most expensive bridge the world has ever seen.

For pertinent news and fundamental grain market information, sign-up for a 30 day, no cost, no obligation, no phone call subscription to Wright on the Market news sent to your email every day before you get out of bed. Click on "subscribe" at: https://www.wrightonthemarket.com/