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Wheat prices are experiencing steady negative trading, edging closer to a significant target of $568.50. Market observers are urged to monitor this level closely; a break below it could trigger further declines, potentially reaching targets of $556.70 and then $545.00.
The price must remain below $585.20 for the anticipated downward trend to persist. Should prices surpass this threshold, it could result in short-term gains, allowing the market to test the $599.00 level before a clearer trend direction emerges.
For today, the expected trading range is set between a support level of $565.00 and a resistance level of $580.00
Related topic:
Top 5 Reasons Why Wheat Futures Are Falling