Tech Guy Weekend Comments 10/12/25

November Crude Oil lost over 3 bucks on Friday, falling back out of the sideways channel.

December support - 57.40, 54.80

December resistance - 60.00, 61.25

November Soybeans fell through nearby support levels and tested old support prices below 1008.00.

support - 1002.00, 993.00

resistance - 1016.00, 1025.00

December Corn marked its low 2.25 cents below the 414.50 support price, after selling off about 7.00 cents from the open/high to the low price print.

support - 412.25, 410.00, 403.50

resistance - 419.50, 423.50

December SRW Wheat marked its low 1.75 cents below the 498.50 support number, after selling off about 13.00 cents from the high to the low print. The close was 1 tick above the 498.50 node.

support - 496.50, 494.50

resistance - 505.00, 510.00

December HRW Wheat marked the lowest low since September of 2020, at 480.75, after losing about 7.00 cents on the day.

support - 480.50, 469.50

resistance - 488.00, 494.00

December Spring Wheat marked its low 2 ticks below the 550.50 support number, after selling down 6.75 cents from the high to the low price.

support - 550.00, 542.50

resistance - 560.50, 565.50

Up until the mid-1980’s, grain production in the U.S. was heavily subsidized by the government to keep the price of food low for American consumers and to keep farmers farming. In the case of wheat, about 30% of the cost of production was paid for by U.S. government subsidies.

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