Tech Guy Opening Calls & Comments 4/15/25

May Wheat - 0.25 Higher

May Corn - 0.75 Lower

May Soymeal - 0.20 Higher

May Beans - 1.25 Lower

May Crude Oil traded in a very narrow range building up energy. It will likely breakout sometime this week. Odds favor higher, but either direction is possible. The pattern is a constricting triangle with lower highs and higher lows.

support - 60.50 - breakdown, 58.60

resistance - 62.60 - break higher, 64.00 - old high

Mat Soybeans corrected 6.50 cents on the day and marked the low at 1030.75 - in between the 2 major nodes or support areas.

support - 1030.00-1028.00, 1020.00

resistance - 1050.00, 1061.50

May Corn marked it's low 1.00 cent below the 480.00 support level, after backfilling about a dime from the overnight high to low and only 4.25 net down on the day.

support - 480.00, 477.50

resistance - 489.00-490.50, 496.00, 500.00

May SRW Wheat sold off 5.25 on the day, closing in between the 2 stated support prices.

support - 540.00, 534.50

resistance - 552.50, 557.00, 565.00

May HRW Wheat marked it's low 1.75 cents below the 550.00 support level, after selling off about 9.00 cents from high to low.

support - 550.00, 544.00

resistance - 560.00, 575.00

May Spring Wheat corrected 3.50 cents on the day, marking the low 1.75 cents above the stated support price at 598.50.

support - 600.00-598.50, 595.50

resistance - 607.00, 610.00, 618.00

History:

President Abraham Lincoln created the USDA on 15 May 1862 to support farmers who were growing the food to feed the civilians and the soldiers fighting to save the Union. Lincoln believed that agriculture was vital to a stable society, and he wanted to show the nation’s gratitude to the nation’s farmers with research and development of farm equipment and the best varieties for crop production through a structure for agricultural production education. Since more than half of America’s population were farmers, Lincoln called the USDA The People’s Department.

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