Tech Guy Weekend Comments 5/18/25

July Crude Oil marked it's low 28 cents above the 60.50 support level, then rallied about 1.50 from low to high.

support - 60.60-6048, 60.20

resistance - 62.70, 64.00

July Soybeans marked the low 1.25 cents above the 1046.00 support price, after selling off about 14.00 cents from high to low. After meeting stiff resistance in the 1080.00 area, beans have to re-group for higher prices. Current floor for prices is about 1036.00.

support - 1045.00, 1036.00

resistance - 1060.00, 1070.00

July Corn marked it's low 3 ticks below the 443.50 support level, after selling off about 8.50 cents from high to low. Corn is currently trying to form a bottom in the 436.00 area.

support - 443.00, 437.00

resistance - 447.50, 452.00

July SRW Wheat marked it's low in the middle of the stated support level range, after selling off almost a dime from the high to the low. Wheat has recently marked a spike low in the 506.00 region that is a promising solid low price.

support - 522.00-520.00

resistance - 534.00, 540.00

July HRW Wheat marked it's low 1.00 cent above the 515.00 support price, after selling off about 14.00 cents from high to low. Hard wheat recently printed a 5 year low at the 500.00 level that has a 60-75% chance of holding as a good low price.

support - 515.00, 507.00

resistance - 530.00, 536.00

July Spring Wheat marked it's low 2.25 cents below the 575.00 support level, after selling off a dime from high to low. Spring wheat is close to testing a 9 month low at the 563.00 price.

support - 572.00, 563.00

resistance - 583.00, 595.00

Grain Merchants:

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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