🌾 Grain Market Morning Outlook – June 4, 2025
Markets are working higher across the board in early trade, with buyers showing renewed interest following technical recoveries off multi-day lows. Here’s a breakdown of key hourly price structure for July grain contracts:
🌽 July Corn (ZCN25)
- Resistance: 444’0, 448’0
- Support: 435’0–433’0 zone (Wave Y low)
- Outlook: Trend bias has shifted neutral-to-positive after retesting the May 31 low. MACD structure shows continued upward momentum with limited overhead resistance below 450’0.
🌱 July Soybeans (ZSN25)
- Resistance: 1048’0
- Support: 1034’0
- Outlook: Rounded bottom in play; bulls holding trend line from May 30. A push above 1046’0 opens the door to test late-May highs.
🌾 July Chicago Wheat (ZWN25)
- Resistance: 540’0, 545’0
- Support: 535’0, 531’0
- Outlook: Inside bar structure suggests indecision, but a close above 540’0 would confirm a bullish continuation from June 3 reversal low.
❄️ July Minneapolis Wheat (MWN25)
- Resistance: 624’0, 630’0
- Support: 614’0
- Outlook: Gapping structure on low volume; buyers stepping in quietly, but needs follow-through above 625’0 to confirm bottoming action.
🏔 July Kansas City Wheat (KWN25)
- Resistance: 624’0
- Support: 615’0
- Outlook: Strong recovery off 618’0 technical shelf. Watch for breakout setup if volume confirms push above 624’0 by midday.
Chart source: Barchart | All times Central |
