Wheat Prices Indicate Continued Bearish Trend, Targeting $554

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Wheat prices are demonstrating a pronounced bearish bias, diverging from the $576.90 level and reinforcing expectations of ongoing downward momentum. This trend is clearly defined within a bearish channel visible on the charts, with the next anticipated target set at $554. The EMA50 indicator continues to bolster this bearish trajectory, contingent upon prices maintaining below the critical $576.90 threshold.

Expected Trading Range: The anticipated trading range spans from a support level of $560.00 to a resistance level of $575.00.

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