Wheat prices have reached the initial awaited target of $660.00, currently consolidating around this level in anticipation of a potential uptick. Market observers are eyeing a continuation of the bullish trajectory within the established channel, with the next target projected at $685.00.
The sustainability of the bullish trend hinges on maintaining price stability above $632.00, a critical level for sustaining upward momentum.
In terms of trading dynamics, the anticipated range for today spans from a support level of $650.00 to a resistance level of $675.00.
Market analysts forecast a bullish trend for wheat prices, anticipating further upside momentum in the near term.