Tech Guy Opening Calls & Comments 4/8/25

May Wheat - 0.25 Lower

May Corn - Steady

May Soymeal - Steady to 0.50 Lower

May Beans - 0.75 Higher

May Crude Oil took out the 59.00 support level, and marked a low of 57.88, down 2.30 for the day at the time of this writing. There's an old low from 2021 at 57.25 which is the next target below.

support - 57.25, 51.40 - swing lows from Jan 2021

resistance - 60.40, 61.90

November Soybeans marked the high 2.25 cents below the 997.50 resistance price, then sold off about 18.00 cents high to low to just past the 978.00 support point.

support - 976.50, 973.50

resistance - 995.00, 1015.00

May Corn continues it's methodical and modest uptrend, closing 1.00 cent below the 470.00 resistance and breakout level.

support - 466.00, 463.00

resistance - 470.00 - breakout, 478.00

May SRW Wheat marked it's low 1.75 cents above the 532.00 support price, after selling off about 11.00 cents from high to low.

support - 534.00, 532.00

resistance - 546.00 - breakout, 550.00, 563.00

May HRW Wheat marked it's low 3 ticks beneath the 553.50 support level, after selling down about 15.00 cents high to low.

support - 557.00, 553.00

resistance - 568.00, 574.50

May Spring Wheat marked it's low 1.00 cent above the 587.50 support price, then rallied 15.00 cents low to high and closed above the 600.00 resistance level. Odds favor more upside after this breakout today. The chart displays a series of higher highs and lows since March 28th.

support - 600.00 - old resist/new support, 592.00

resistance - 610.00, 618.50

Veg oils:

There are nine major vegetable oils in the world marketplace. Palm oil is the most widely traded vegetable oil, followed by soybean, canola (aka rapeseed), sunflower, palm kernel, peanut, cotton, coconut, and olive. Palm oil is considered the least healthy, canola the most healthy, but olive is the most tasty.

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