Tech Guy Weekend Comments 3/23/25

Within 3 ticks on 4 of the numbers for grains and within 3 & 15 cents on crude.

May Crude Oil marked it's high 15 cents above the 68.50 resistance price, after rallying about 2 bucks from the low which was within 3 cents of the 66.60 support level.

support - 67.65, 66.55

resistance - 68.65 - breakout, 69.75

May Soybeans marked the high 3 ticks above the 1016.00 resistance level, then sold off about 12.00 cents, to 3 ticks below the 1005.00 support point.

support - 1004.00, 994.00

resistance - 1015.00-1017.00, 1022.00

May Corn marked it's low 3 ticks below the 462.00 support price, after selling off about 8.00 cents high to low.

support - 463.00-461.50, 456.50

resistance - 470.00, 477.00

May SRW Wheat marked it's low 3 ticks below the 554.00 support level, after selling off about 9.00 cents high to low.

support - 553.00, 546.00

resistance - 563.50, 569.00

May HRW Wheat marked it's high 4.25 cents above the 592.00 resistance price, after rallying about 14.50 cents from low to high.

support - 585.50, 581.00

resistance - 597.50, 605.00

May Spring Wheat marked it's low 2.00 cents below the 604.50 support level, after selling down just 6.50 cents high to low.

support - 602.00-600.00, 596.50

resistance - 610.00, 618.00

Interesting commercial facts: In the grain trade, ABCD refers to ADM, Bunge, Cargill, and Louis Dreyfus Company. These four multinational companies control 90% of the global grain trade, plus a considerable portion of the food processing chain. Collectively known as the ABCD companies, they may not be as recognizable as the big four oil or tech names but approach them in their economic clout. Cargill is, by far, the largest grain company of the four and it is the largest privately held company in the U.S. and probably the world.

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