Tech Guy Weekend Comments 5/31/25

July Crude Oil remains trading in a sideways to very slightly down channel.

support - 59.60, 57.70

resistance - 62.00, 63.15

July Soybeans probably just completed an A-B-C sideways to down correction that began on May 14th.

support - 1040.00, 1036.00, 1029.00

resistance - 1070.00-1073.00, 1082.00

July Corn has corrected down about 22.00 cents to 443.00 from the last swing high of 465.00.

support - 443.00, 437.00

resistance - 455.00, 465.00

July SRW Wheat has been trading sideways between 538.50 and 526.00 since my last report.

support - 530.50, 526.00

resistance - 541.00, 552.00

July HRW Wheat is trading in a contracting triangle formation that has narrowed to a range of 536.00 to 526.50.

support - 529.00, 525.50-523.00

resistance - 540.00, 548.50

July Spring Wheat is in the process of marking a new up leg from the May 27th low of 525.50 to Friday's high of 627.00.

support - 617.00, 611.00

resistance - 631.50, 640.00

American History:

The St. Lawrence Seaway System was built in the 1950’s because of President Eisenhower’s efforts to expand North America’s market access to the world. It is a 2312 miles (3,700 km) “marine highway” that extends from the Atlantic Ocean to the Great Lakes. Grain movements from the Great Lakes through the St. Lawrence Seaway System increased 12.5% in 2024 to 11.8 million mts from 2023.

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