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Tech Guy Opening Calls & Weekend Comments 6/9/24

July Wheat - 1.25 Lower


July Corn - 0.50 Lower


July Soymeal - 0.10 Lower


July Beans - 1.00 Lower


Crude price - 75.32, down 0.21


S&P price - 5354.75, down 1.00


July Crude Oil Marked the high 5 cents above the 76.20 resistance price, then sold off about a buck. No breakout yet.

support - 75.00

73.90

resistance - 76.25 - breakout

77.60


July Soybeans marked the low 10 cents below support while testing Wednesday's low on heavy volume - continuing to forge a bottom.

support - 1176.50

1162.00

resistance - 1195.00

1205.00


July Soymeal marked it's low around 355.00, also testing Wednesday's low forming a triple bottom.

support - 358.00

352.50

resistance - 365.00

370.00


July Corn marked it's low 3 ticks above the 443.50 support, printing a higher low, confirming the likelihood of last week's solid bottom on.

Support - 447.25

444.00

resistance - 454.50

457.00


July SRW Wheat has retraced about 50% of the entire rally from March to May, crashing through support again Friday. It is probably a good spot to begin accumulating for a longer time frame (2-3 months) play.

support - 623.00

609.50

resistance - 654.00

665.00


July HRW Wheat also eclipsed support.

support - 661.00

650.50

resistance - 674.00

690.00


July Spring Wheat marked the low 1 tick below the 690.50 support level after selling about 17 cents high to low.

support - 692.00

680.50

resistance - 720.00

729.00


June S&P took out the resistance at 5373 by about 10 points, then reversed down for 30 points.

support - 5350

5328, 5311

resistance - 5394

5450



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