Wheat changed -6.68% during the last week, -18.32% during the last month and -28.01% during the last year. Historically, wheat reached an all time high of 1194.50 in February of 2008 and a record low of 192 in July of 1999. Risk-off assets such as Treasuries and gold are highly overextended despite the fact that equity market are hovering at relatively lofty levels. The September wheat contract on the Chicago Board of Trade (CBOT) sat at US430 cents a bushel on Monday night, the lowest level for a second closest contract for more than 10 years. The prices are low due to the massive amounts of grain in the world, however, August tends to be a better month as this generally gives you the average price over the year.
Trade closed: target reached
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Comments
mgiuliani
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First target @ 446.00 was reached on 13th July
vaicru
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well done
cyceon
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I like this LONG idea, however I'd wait for confirmation in H4 that would occur at 433/441 cents a bushel.
mgiuliani
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IMPORTANT:
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