Tech Guy Opening Calls & Comments 8/4/25

Sep Wheat - Steady to 0.25 Higher

Dec Corn - Steady

Dec Bean Oil - 0.25 Higher

Nov Beans - Steady to 1.50 Lower

September Crude Oil marked it's low 46 cents above the 65.00 support level, after selling off about 2.30 from the high to the low print.

support - 65.00, 64.00

resistance - 67.00, 67.75

November Soybeans marked the low 1.00 cent above the 985.00 support price, then rallied about 11.00 cents from the low to the high.

support - 989.00, 985.00, 971.50

resistance - 998.50-1001.00, 1013.00

December Corn marked it's low 3 ticks below the 407.50 lower bracket support, after selling down about 6.25 cents from the high to the low.

support - 407.00, 399.00

resistance - 412.50, 416.00

September SRW Wheat marked it's low 2.00 cents below the 515.00 support number, then rallied a dime from the low to the high print. Soft wheat traded in a Doji-like fashion, with the open/close only a cent apart. Watch for additional buying tomorrow.

support - 516.00, 513.00, 510.50

resistance - 524.50-526.00, 532.50

September HRW Wheat marked it's low 2.50 cents below the 515.00 support level, then rallied about 11.00 cents from low to high. Hard wheat's open and close were 1.25 cents apart.

support - 516.00, 512.00

resistance - 524.00, 530.00

September Spring Wheat traded in a very small 5.50 cent range, in between support and resistance, with the close being slightly positive for the day. There was a lot of buying during the last 15 minutes of trading. Watch for follow through buying, as there could be an up correction nearby.

support - 571.00, 569.00, 563.50

resistance - 579.00, 585.00, 595.00

History:

There are no descendants of George Washington because, when he had mumps as a youngster, he refused to stay in his bed and be physically inactive as the doctor ordered. The mumps “went down on him” and made him sterile. Maybe that was a good thing. Can you imagine everyone knowing you are the great, great, great, great grandchild of George Washington?

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/