{"id":22075,"date":"2025-08-06T13:23:21","date_gmt":"2025-08-06T20:23:21","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=22075"},"modified":"2025-08-06T13:23:21","modified_gmt":"2025-08-06T20:23:21","slug":"22075-2","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/22075-2\/","title":{"rendered":"Market Pressures Mount: Grains Sink, Energy Slips, Gold Holds Ground – August 7th, 2025"},"content":{"rendered":"

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Bullet Points, Highlights, Announcements<\/h1>\n

By Mark O’ Brien, Senior Broker<\/em><\/h4>\n

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Grains:<\/strong><\/p>\n

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Front month corn, wheat and soybeans all traded at or near low prices for the year this week and crop conditions have remained favorable across the growing region nearly the entire season and this first week of August promising more favorable weather.\u00a0The USDA on Monday issued condition ratings that showed U.S. corn conditions were at their highest in nine years, reinforcing the prospect of a bumper U.S. harvest. The CBOT September corn contract fell 1 1 \/ 4 to close at $3.80-1\/4 per bushel, after hitting a low of $3.75 per bushel. \u00a0All futures contracts from September 2025 out to September 2026 traded to life-of-contract lows this week.<\/p>\n

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Adding to this price pressure are good harvest prospects and the prospect that the U.S. market is losing its usual exports to China as Chinese buyers are switching to soybean supplies from South America.<\/p>\n

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Energy:<\/strong><\/p>\n

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September crude oil traded lower for the sixth straight session and pushed below $64\/barrel for the first time Since July 2.\u00a0The global market continues to navigate a complex web of supply pressures and geopolitical crosswinds.\u00a0Prices are currently dropping in the face of an emerging supply glut once the peak summer demand season comes to an end, rising OPEC+ output and fading global demand growth amid tariff-related demand concerns.\u00a0Crude oil is still down \u00b18% for the year.<\/p>\n

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Meanwhile, natural gas futures have come under renewed pressure. The front-month September Henry Hub contract dropped back below $3.00 per MMBtu for the first time since April, hovering again near year-to-date lows $3.00 per MMBtu. \u00a0The decline reflects a persistent oversupply, with domestic production remaining robust and storage levels now 6.7% above the five-year average. Weather forecasts pointing to cooler-than-normal conditions in mid-August have added to the bearish mood by signaling softer air-conditioning demand for the latter part of summer.<\/p>\n

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Metals:<\/strong><\/p>\n

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Gold futures snapped a 3-day winning streak, inching lower ahead of President Trump\u2019s August 7 tariff deadline. \u00a0The president announced that Indian imports will be subject to an extra 25% increase in tariffs, on top of the 25% rate they already face. \u00a0Punitive tariffs on Brazil also took effect today, lifting import taxes on some Brazilian goods to 50%.\u00a0Notwithstanding gold\u2019s retreat today, futures are still within striking distance of their recent all-time highs with October gold back above $3,400\/oz. and it\u2019s last four high closes at $3,482\u00a0(4\/21), $3,480\u00a0(5\/6), $3,480.50\u00a0(6\/13) and $3,472.30\u00a0(7\/22).<\/p>\n\n\n\n
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Daily Levels for Aug 6th, 2025<\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Want to feature our updated trading levels on your website?\u00a0Simply paste a small code, and they’ll update automatically every day!\u00a0<\/em><\/h3>\n

Click here for quick and easy instructions<\/a>.<\/em><\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Economic Reports<\/h3>\n

provided by:\u00a0<\/a>ForexFactory.com<\/a><\/p>\n

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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Cannon Trading Co., Inc.<\/span><\/em><\/p>\n

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Bullet Points, Highlights, Announcements By Mark O’ Brien, Senior Broker Grains:   Front month corn, wheat and soybeans all traded at or near low prices for the year this week and crop conditions have remained favorable across the growing region nearly the entire season and this first week of August promising more favorable weather.\u00a0The USDA […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-22075","post","type-post","status-publish","format-standard","hentry","category-future-trading-news"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=22075"}],"version-history":[{"count":3,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22075\/revisions"}],"predecessor-version":[{"id":22080,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22075\/revisions\/22080"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=22075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=22075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=22075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}