Tech Guy Weekend Comments 6/8/25

July Crude Oil marked it's high 20 cents below the 65.00 resistance level, after rallying about 2.00 dollars from low to high.

support - 64.00, 62.75

resistance - 65.00, 67.25

July Soybeans closed 1.00 cent above the 1057.00 resistance price, after rallying and closing 7.50 cents higher on the day.

support - 1053.50, 1047.00

resistance - 1063.00, 1068.50

July Corn marked it's high 1.50 cents below the 446.50 resistance number, after rallying about a dime from low to high.

support - 438.50, 435.00

resistance - 446.00, 451.50

July SRW Wheat marked it's high and close 1.25 cents below the 557.00 resistance point, after rallying about 16.00 cents from the early morning low to the high.

support - 549.00, 542.00

resistance - 558.00 - breakout, 575.00

July HRW Wheat market it's high and close 1.00 penny below the 551.00 resistance level, after rallying about 14.50 cents from 3 ticks within the 536.50 support area to the high.

support - 545.00, 535.50

resistance - 555.50, 570.00

July Spring Wheat marked it's high 2.50 cents above the 634.00 resistance price, after rallying 13.75 cents from low to high.

support - 628.50, 622.00

resistance - 640.00, 655.00

July Soft Wheat is on the verge of breaking higher from a range, July Soybeans is about 25.00 cents above it's corrective low price, and July corn has formed an inverted head and shoulders pattern on the 1 hour chart, which points higher.

Pricing:

When pricing new crop corn and beans during the growing season, you should always sell 100% of the bushels in the December corn or the November soybean contracts because as the new crop gets made, those contracts will go down more than the deferred contracts.

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