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Wheat prices demonstrated significant positive movement at today’s market opening, approaching the anticipated target of $623.70. Current trends suggest a potential for surpassing this level, paving the way for further bullish corrections in the upcoming sessions, with the next target set at $648.40.
Supporting this bullish trend is the EMA50, which continues to provide upward momentum. This bullish outlook remains intact as long as prices do not fall below the critical support level of $599.00.
For today, the expected trading range is projected between the support level of $610.00 and the resistance level of $627.00.
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Top 5 Reasons Why Wheat Futures Are Falling