Tech Guy Opening Calls & Comments 4/14/25

May Wheat - Steady

May Corn - Steady to 0.50 Lower

May Soymeal - 0.10 Lower

May Beans - 0.75 Lower

May Crude Oil traded in about a 2 Dollar range today, rallying in the morning then selling off. The range was well within support and resistance levels.

support - 60.32 - breakdown, 58.55

resistance - 63.40 - breakout, 66.55

May Soybeans marked a new high for the move, then settled back down 1.50 cents on the day. Uptrend is solid.

support - 1037.00, 1020.00

resistance - 1061.50, 1080.00

May Corn corrected down 6.00 cents on the day. The down move today was a well structured A-B-C formation on the intraday charts, so there is an argument for the back filling to be complete.

support - 483.25, 480.00

resistance - 500.00, 515.00-519.00

May SRW Wheat broke out higher on Friday, then corrected today deep into support prices in order to stop as many new longs as possible.

support - 544.50, 534.50

resistance - 557.00, 565.00

May HRW Wheat is still rangebound. It rallied Friday to test the top of the range, started selling, then sold off to test the bottom today - interesting dynamic between these 2 wheats. The soft wheat minus hard wheat spread has gained about 24.00 cents just since last Wednesday

support - 553.25, 550.00, 545.00

resistance - 560.00, 575.50

May Spring Wheat lost 10.25 cents for the session, but price remained above the 600.00 support level.

support - 603.00, 598.50

resistance - 610.00, 618.50

Food security:

Over the thousands of years of human history, the most common causes of war have been religion and resources to produce food. That is why the CIA, after the USDA, spends more money than any other organization in the world to collect crop production data from around the world.

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