Tech Guy Weekend Comments 8/17/25

September Crude Oil marked it's low 8 cents above the 62.60 support level, after selling off about 1.50 from the high to the low.

support - 62.50, 61.80

resistance - 64.45, 65.10

November Soybeans marked the low 1 tick below the 1027.00 support price, then rallied about 17.00 cents from low to high.

support - 1032.50, 1024.00

resistance - 1050.00, 1059.50

December Corn closed on the high which was 1 tick shy of the 406.00 resistance number. It traded about 9.00 cents from the low to the high.

support - 401.00, 398.00

resistance - 410.00, 416.00

September SRW Wheat marked it's low 2.00 cents above the 502.00 support number, then rallied about 6.25 cents from low to high. The inability of to test the 500.00 support is constructive for more buying.

support - 503.25, 500.00

resistance - 511.00 - breakout, 524.00

September HRW Wheat marked it's high 1 tick below the 509.00 resistance level, after rallying about 7.00 cents from low to high.

support - 503.00, 500.50

resistance - 511.00 - breakout, 514.00, 520.00

September Spring Wheat sold off a total of 2.00 cents for the day while marking the low print in between the 2 stated support prices of 570.50 and 567.50.

support - 568.00, 563.50

resistance - 574.00, 584.00

Soviet Union:

The Soviet Union asked in June 1972 to buy a large amount of U.S. wheat on a three-year deal. An agreement was made for the U.S. to sell the Soviet Union 10 million mts (364 million bushels) of wheat over the next three years. However, the entire tonnage was purchased by the Soviets in July and August 1972 from the ABCD companies. Since the U.S. government was not tracking the export sales and shipments of U.S. food and fiber exports, very suddenly, there was not enough wheat to meet the domestic demand. The price of wheat jumped 30% for American consumers.

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