Wheat Futures Test Significant Support

Wheat
Technicals: Wheat futures came within a stone's throw of 4-star support overnight, we've had that labeled as 1027 1/4-1034 1/4, the low was 1036 1/2. If you're Bullish (we aren't) that is a good spot to consider buying as the risk is fairly well defined. A break and close below that pocket could open the door for a break back below $10.00 and below, with the next significant support coming in closer to 975.

Bias: Neutral

Previous Session Bias: Neutral

Resistance: 1142 ¾-1150***, 1200-1205 ¼**
Pivot: 1095-1102
Support: 1027 ¼-1034 ¼****, 982**, 967 1/4**

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