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Wheat prices have surged, surpassing the anticipated target of $564.60 and paving the way for a potential bullish correction following a decline from the $728.30 range. The breach of the $568.50 level could drive prices towards a new significant target of $599.00.
Looking ahead, further gains are anticipated in the coming sessions. However, a drop below the $555.00 mark could negate the current positive outlook and lead to a price decline.
For today, the expected trading range for wheat is between a support level of $560.00 and a resistance level of $580.00.
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