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JaceYoung
Jul 7, 2016 1:33 PM

Sep KC Wheat Long Long

KC HRW Wheat Futures (Sep 2016)CBOT

Description

The market is drastically oversold as we are right in the middle of wheat harvest in Kansas. I would expect to see a rally here back up into the $4.50's - $4.70's as that is a prior area of support/resistance and a 61.8 Fib Retracement. This would be a good place for farmers to look to sell or forward contract some more grain.
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