Tech Guy Opening Calls & Comments 7/7/25

Sep Wheat - Steady to 0.50 Lower

Dec Corn - Steady

Dec Bean Oil - 0.11 Higher

Nov Beans - 0.25 Lower

August Crude Oil marked it's low 20 cents above the 65.20 support level, then rallied almost 3 bucks from low to high, to in between the stated resistance prices.

support - 66.80, 65.30

resistance - 68.95, 69.90

November Soybeans shattered support levels on a huge gap down opening, nullifying the potential rally. It closed down 28.50 cents to 1020.75.

support - 1012.50, 1000.00

resistance - 1040.00, 1049.50

December Corn lost 16.00 cents on the trading session, also with a big gap down, and trading near old support at 417.50. Potential rally thwarted.

support - 417.50-416.00, 414.00

resistance - 430.00, 435.00

September SRW Wheat marked it's low 3.00 cents below the 544.50 support number, after also gapping down and closing down 8.00 cents on the day, to 548.75.

support - 545.00, 541.50

resistance - 553.50-556.00, 569.00

September HRW Wheat tested an old support price of 522.00, after trading down 7.50 cents for the day, to 528.50.

support - 525.00, 521.00

resistance - 535.00, 542.50

September Spring Wheat marked it's low 2.25 cents below the 635.00 support number, after selling off 12.00 cents from the opening/high to the low.

support - 633.00, 625.00

resistance - 646.00, 653.50

Veg Oil:

There are nine major vegetable oils in the world marketplace. Palm oil is the most widely traded vegetable oil, followed by soybean, canola (aka rapeseed), sunflower, palm kernel, peanut, cotton, coconut, and olive. Palm oil is considered the least healthy, canola the most healthy, but olive is the most tasty.

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