Tech Guy Opening Calls & Comments 4/10/25

May Wheat - 1.25 Lower

My Corn - Steady to 1 Lower

May Soymeal - Steady

May Beans - 2.50 to 4.00 Lower

May Crude Oil sold off 2.12 from just above the first resistance level. It looks like an inverted head and shoulders is forming on the intraday charts - It likely projects to about 71.00 where a gap is - not a coincidence, as this is unfinished business. Crude has to re-visit 64.00 first.

support - 60.00, 58.75, 56.50

resistance - 62.30, 64.00 - breakout

May Soybeans continued with the uptrend, nailing the gap closure and upper price target. Should continue uptrend, but it may be necessary for a bigger backfill to happen first.

support - 1010.00, 1000.00

resistance - 1035.00-1036.00, 1051.00

May Corn nearly reached the 484.00 target while gaining 8.50 for the day. Up is favored.

support - 473.50, 470.00

targets - 496.00, 500.00, 506.00

May SRW did not break up out of it's range, but has good support near today's low. The low was printed 1.50 cents below the upper 536.00 support, after selling off about 17.00 cents from the high from just above the 546.00 resistance.

support - 534.50, 527.00

resistance - 548.00, 563.00

May Hard Wheat sold off with more fury, surpassing all support, and almost testing old support in the 554.00 area, which is the bottom of an ascending triangle.

support - 553.00-550.00

resistance - 572.00, 578.00

May Spring Wheat held 1 tick below the 600.00 support price, after selling down 11.75 cents from the high.

support - 599.00, 589.00

resistance - 607.00, 611.50

Price:

The job of the market is to make sure we never run out of any food or fiber commodity. The market does that with higher prices to ration demand in times of small supplies.

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