Tech Guy Weekend Comments 8/10/25

September Crude Oil marked it's low 3 ticks below the 62.80 support level, then rallied almost 1.30 from the low to the high.

support - 62.80, 62.15

resistance - 64.60, 65.20

November Soybeans marked the low 1.00 cent below the 987.00 support price, after selling off about 12.00 cents from high to low.

support - 986.00, 981.00

resistance - 996.00, 1003.00

December Corn marked it's low 1 tick above the 404.00 support number, then rallied almost 7.00 cents from the low to the high.

support - 404.00, 402.00

resistance - 411.00-412.50, 416.00

September SRW Wheat marked it's low 1.25 cents below the 515.00 support number, after selling down about 9.00 cents from the high, which was just below resistance, to the low.

support - 509.50, 504.00

resistance - 522.00-523.00, 526.50

September HRW Wheat marked it's high 3 ticks above the 524.00 resistance level, then sold off about 9.00 cents from high to low.

support - 513.00, 506.50

resistance - 525.00, 530.00

September Spring Wheat marked it's low 3 ticks above the 573.00 support price, after selling off 7.25 cents from the high price to the low print.

support - 573.00, 569.50

resistance - 584.00, 595.00

History:

The Morrill Act of 1862 was signed into law by President Lincoln on 2 July 1862. It granted each state 30,000 acres blocks of federal land for each of its electoral votes. States were to sell this land to raise money to fund colleges that would focus on teaching agriculture and mechanical developments. These colleges became known as “Land Grant” colleges. These schools were also required to teach military tactics, which were designated as the Reserve Officer Training Corps (ROTC) in 1916.

For pertinent news and fundamental grain market information, sign-up for a 30 day, no cost, no obligation, no phone call subscription to Wright on the Market news sent to your email every day before you get out of bed. Click on "subscribe" at: https://www.wrightonthemarket.com/