Wheat Prices Remain Steady around Moving Average

Wheat prices have exhibited relatively limited volatility in recent trading sessions, with a tendency to hover around the EMA50. This stability reaffirms the anticipated bearish trend in the short term.

To validate the bearish scenario, it’s crucial for wheat prices to maintain their position below the 605.00 mark. It’s worth noting that our expected price targets start at 577.00, with potential extensions down to 549.70 following a breach of the aforementioned level.

The expected trading range for today is likely to oscillate between support at 575.00 and resistance at 600.00.

Today’s anticipated trend: Bearish