Tech Guy Weekend Comments 6/14/25

July Crude Oil demolished all resistance levels because of the air strikes in the Middle East, and finished 5 bucks+ higher at 73.18. What began as resistance, at the 70.25 price, became support. 88.00 and 95.50 are old highs to the left, which may be targeted.

support - 71.50, 70.25

resistance - 77.50, 80.80

July Soybeans finished 11.50 cents above the 1057.00 resistance area. This should be the start of the next leg higher that we've been looking for.

support - 1063.00, 1057.00

resistance/targets - 1073.50, 1082.00

July Corn marked it's high 1 tick above the 445.00 resistance number, after rallying a dime from low to high. Watch this 445.00 area, as it is an important pivotal area on the chart. A close above it will give us confidence for higher prices, targeting the 460.00 area.

support - 443.25, 440.00

resistance - 451.00, 462.00

July SRW Wheat closed 4.50 cents above the 539.50 resistance price, indicating that this level now becomes support.

support - 539.50-538.00, 535.00

resistance - 545.00 - breakout, 558.00

July HRW Wheat gained 16.50 on the day, while closing 5.00 cents above the 538.00 resistance number. Bullish. Again, resistance becoming support.

support - 538.00, 534.50

resistance - 546.00, 558.00

July Spring Wheat marked it's high 1.25 cents shy of the 536.00 resistance price, after rallying 13.50 cents on the day, or 19.50 from low to high.

support - 630.00, 626.00

resistance - 636.50-640.00 - breakout, 673.00

The first 11 contracts of Soybean Oil closed limit up on Friday. July was locked limit up by 8:45 AM and It was unable to trade below limit bid for the entire rest of the trading session. The expanded limit for Monday is 4.50. When every contract of a commodity closes limit up, you say "limit up across the board." In this case, it was almost half of the board which runs out to December of 2028. Either way you slice it, Friday was a very bullish day, probably propelling the front month of soybean oil (July or August) to 60-61, which is projected because of the size of the bottom formation.

Fun Facts:

Bees pollinate roughly 35% of the world’s food crops.

Since 1961, global grain yields have tripled, allowing food production to outpace population growth.

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