Wheat Prices Hit Initial Target, Further Decline Expected

Wheat prices have reached the first target of $543.00, with expectations of additional declines in the coming sessions, potentially targeting $519.10 as the next key support level.

The negative impact of the head-and-shoulders pattern remains intact, reinforcing the outlook for further price decreases. To maintain the bearish trend, it is crucial for prices to remain below $568.50.

Today’s anticipated trading range is between the support level of $535.00 and the resistance level of $555.00.

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