Tech Guy Weekend Comments 6/22/25

August Crude Oil traded in a very small range Friday, remaining in between support and resistance and consolidating waiting for more information.

support - 72.00, 71.40

resistance - 76.00, 77.60

August Soybeans corrected about 12.00 cents from the high near the end of the trading day, and marked the low in between stated support levels.

support - 1068.50, 1065.00

resistance - 1083.00, 1098.00

September Corn has marked a more definitive bottom than the July contract. July marked it's low 1.75 cents below the 430.00 support price, while September has corrected about 50% of the previous upleg. See below.

support - 426.00, 423.50

resistance - 435.00, 445.00

September SRW Wheat corrected about 8.50 cents down from Wednesday's high.

support - 581.50, 572.50

resistance - 594.00, 608.00

September HRW Wheat also corrected down about 8.50 cents from the previous day's high.

support - 577.00, 565.00

resistance - 592.00, 604.00

The September wheats are stronger than the July contract, implying more buying in the near term as contracts roll forward.

September Spring Wheat corrected down 4.75 cents from Wednesday's high, after testing some light resistance.

support - 654.00, 646.00

resistance - 666.00, 682.00

The September Corn chart is already in an up trend whereas the July contract is still fighting to mark a bottom. This suggests as the money rolls to September, we should experience more control from the bulls.

Tractors cont:

In terms of gallons of fuel consumed per hour on full horsepower load, the John Deere 720 diesel (built in the 1950’s) holds the record for fewest gallons per hour under full load. Yes, that is a two-cylinder tractor still used on some farms today.

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