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Wheat prices have begun to fall following a peak of $566.00, signaling a potential return to the primary bearish trend. This shift is bolstered by a decline in positive momentum as indicated by the stochastic indicator, with an initial target set at $532.10.
Today’s forecast suggests a bearish outlook, with a potential halt to the decline if prices breach $557.50, which could lead to a recovery and a test of the $578.40 level.
The anticipated trading range for today is between $535.00 and $560.00.
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