Tech Guy Weekend Comments 5/11/25

June Crude Oil indeed broke out higher from the 60.30 resistance/node price, and rallied 1.15 for the day. The high was marked 35 cents below the 61.70 resistance/target.

support - 60.30, 58.80

resistance - 61.70, 62.15, 63.25

July Soybeans marked the high 2.25 cents above the 1056.00 resistance level, after rallying about 17.50 cents from a couple of cents above support.

support - 1046.50, 1040.00

resistance - 1058.50, 1065.00

July Corn marked it's high 3.00 cents above the 452.00 resistance price, then sold off about 8.00 cents from high to low, while remaining above support.

support - 447.00, 442.50

resistance - 455.00, 464.00

July SRW Wheat marked it's low 2.75 cents below the 523.50 support price, after selling off about 12.50 cents from high to low.

support - 520.00, 517.00

resistance - 526.00, 534.00

July HRW Wheat sold off 8.00 cents on the day while falling almost 4.00 cents below support on the low. You have to go back to the fall of 2020 to see these low prices.

support - 516.00, 508.50

resistance - 522.00, 528.50

July Spring Wheat marked it's low 2.75 cents above the 590.00 support level, after selling off 10.75 cents from high to low.

support - 592.00-590.00, 584.00

resistance - 599.00, 604.00, 608.00

Monthly reports:

The WASDE monthly projections change as weather, world political situations, and currency exchange rates change. The numbers are often wrong, but no other source is considered more accurate.

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