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Wheat prices have experienced a notable decline in recent sessions, retreating from the $599.00 mark to reach the anticipated negative target of $568.50. Analysts suggest that a break below this level could lead to further declines, potentially extending down to $555.60.
The prevailing bearish trend remains intact, with the possibility of a reversal if prices breach the $599.00 threshold, which would halt the downward momentum and trigger a potential upward shift.
For today, the expected trading range for wheat is projected to be between a support level of $565.00 and a resistance level of $585.00.
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