Tech Guy Opening Calls & Comments 8/7/25

Sep Wheat - 0.75 Higher to 0.25 Lower

Dec Corn - 0.50 Higher to 1.00 Lower

Dec Bean Oil - 0.10 Higher

Nov Beans - 0.50 Higher to 0.75 Lower

September Crude Oil marked it's low 24 cents above the 63.40 support level, on the way to losing 53 cents to 63.82 at the time of this writing. There is an argument for a corrective rally after 1 more swing low. Stay alert.

support - 62.80, 62.10

resistance - 65.15, 66.80

November Soybeans marked the high 3 ticks from reaching the 995.50 resistance price, after rallying about 12.00 cents from the low to the high.

support - 987.00, 983.00

resistance - 1002.50, 1010.00

December Corn marked it's high 1.00 cent beyond the 407.00 resistance number, after rallying about 5.50 cents from the low to the high print.

support -  404.00, 402.00

resistance - 412.50, 416.50

September SRW Wheat broke to the upside and marked it's high 2.00 cents above the 518.00 resistance point.

support - 515.00, 509.50

resistance - 523.00, 526.50

September HRW Wheat marked it's high 1.50 cents below the 524.00 resistance level, after rallying about 12.00 cents from the opening/low to the high later in the day.

support - 517.00, 512.50

resistance - 524.00, 530.00

September Spring Wheat marked it's high 2 ticks above the 576.50 resistance target, after rallying 9.00 cents from the low to the high.

support - 573.00, 569.50

resistance - 582.50, 594.00

Lincoln:

President Abraham Lincoln created the USDA on 15 May 1862 to support farmers who were growing the food to feed the civilians and the soldiers fighting to save the Union. Lincoln believed that agriculture was vital to a stable society, and he wanted to show the nation’s gratitude to the nation’s farmers with research and development of farm equipment and the best varieties for crop production through a structure for agricultural production education. Since more than half of America’s population were farmers, Lincoln called the USDA The People’s Department.

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/