Wheat Price Nears Target, Signaling Further Upside Potential

Wheat prices have demonstrated continued positive momentum, approaching the proximity of our awaited target at 639.30. Vigilance is advised at this level, as a successful breach could pave the way for additional bullish corrections, with the next target projected at 667.00.

As of now, the prevailing intraday trend suggests a bullish trajectory. However, it’s crucial to note that any break below 622.00 could exert downward pressure on the price, potentially leading to a test of 605.00 before any subsequent upward endeavors.

For today’s trading, the expected range spans from support at 620.00 to resistance at 640.00.

Expected Trend for Today: Bullish