Part one ($CORN) link:
1. Wheat has been on the decline since July 2012, with a small test pump taking place at the beginning of this year. in the time previous to the test pump (09/2011 - 02/2014) was almost non-existent. In comparison to $CORN, $WHEAT has even less trading which we can conclude means that there was almost nobody watching it.
2. Over the past 25 weeks there has been extremely heavy buying while the market maker has built his position. Considering we are at all time lows for wheat and the size of the position built, we may see this run last for quite a while.
3. Watch the CORN/WHEAT pairing closely. They've been taking turns leading each other to breakout. Currently Wheat is up 8%+ this week, with $CORN up only about 2%, meaning that I believe $CORN will follow up shortly.
Key Range Levels
#1 : $10.60 - $13.50
#2 : $13.50 - $15.70
#3: $15.70 - $17.70