Tech Guy Opening Calls & Comments 4/20/25

May Wheat - 0.75 Lower

May Corn - Steady

May Soymeal - 1.10 Higher

May Beans - 0.50 Lower

Crude price - 63.19, down 0.82

S&P price - 5289.75, down 23.00

May Crude Oil marked it's high 34 cents above the 63.80 resistance level, after rallying more than 2 bucks, as was expected. The most likely scenario for this week is a continuation of the up move.

support - 63.35, 62.40

resistance - 64.95, 66.50

May Soybeans marked the high 1 tick below the 1045.50 resistance price, then sold off about 13.00 cents high to low.

support - 1034.00, 1028.00

resistance - 1046.00, 1050.00

May Corn marked it's low 2 ticks below the 482.00 support level, after selling off only about a nickel from high to low.

support - 481.50-479.00, 477.50

resistance - 487.00, 489.00-490.00 - breakout

May SRW Wheat marked it's high 1.25 cents below the 557.00 resistance point, then sold off about 8.00 cents high to low.

support - 547.00-546.00, 542.50

resistance - 556.00, 573.50

May HRW Wheat marked it's low 3 ticks above the 555.00 support price, after selling off about 13.00 cents from high to low.

support - 555.75-554.50, 550.00

resistance - 569.00, 575.00

May Spring Wheat marked it's high 3.50 cents above the 610 resistance level, after rallying 9.75 cents from low to high. Then, wheat sold off about 7.50 cents from the high into the close.

support - 603.50-601.50, 596.50

resistance - 616.00-618.00, 623.50

Ethanol & Sugarcane

Ethanol plants are already using 25% of Brazil’s corn crop and expanding every year.

At 4.6 billion tons, sugarcane is the world’s largest agricultural product by volume. Brazil, India, and Thailand lead the globe in sugarcane cultivation, providing raw material for sugar and biofuels.

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