Given the mounting anger and protests by farmers across Europe, there appears to be a significant challenge stemming from contradictory and potentially detrimental agricultural policies. The grievances include increased costs for agricultural diesel, additional fees for water consumption, complex regulations, and objections to bans on pesticides and herbicides...
AMEX:WEAT may increase soon; however there is still a lot of downward pressure from the massive peak in recent years.
Therefore, prices may dip a little further, then increase soon (in 2023 and 2024). I do not want to go in great detail about the price effects from harsh climate shifts, however this topic can shift the prices as so can supply-line...
Looks like a powerful chart. Double bottom and now sitting back at an area of support. Strong W pattern in the making. Bottom close?
Everyone needs bread! Get your wheeties while they're cheap. My opinion is that commodities will be strong buys long term
WEAT the Wheat EFT has been volatile of late due to the Bakc Sea shipping deal
falling apart when Russia refused to renew it. Brazil has been trying to increase
whet exports to pick up from the fall off of Ukrainian shipments to Africa and others.
On the 4H chart, WEAT has fallen 15% from the double tops of July demonstrating
the high volatility in what is...
WEAT is a popular ETF tracking wheat as a commodity. Because of geopolitical issues
the rising price is an escalator for basic food prices from Africa to USA and globally.
Sugar is a commodity that always seems to rise. Here on this daily chart, I have plotted
the ratio of wheat to sugar spot prices which typically is a falling ratio. However, the
downtrend...
WEAT is essentially tracking wheat future contracts of various lengths. Importantly, the war in
Ukraine took a disastrous turn when the Russians sabotaged a major dam subjecting thousands
of acres of farmland to potential flooding and compromising the cooling pools for the nuclear
electric generating plant that services a multitude of people. Urkaine is...
Teucrium Wheat Fund forms bullish "Continuation Wedge" chart pattern
"Continuation Wedge (Bullish)" chart pattern formed on Teucrium Wheat Fund (WEAT:NYSE). This bullish signal indicates that the stock price may rise from the close of $7.03 to the range of $8.30 - $8.60. The pattern formed over 28 days which is roughly the period of time in which the target...
Trade Journal - WEAT, Jan 19 (long)
Thesis
Last year, inflation was high due to increased input costs of oil. Russia's invasion of Ukraine created supply issues and an increase in demand / reduction in supply. However, WEAT did not perform as expected, and only saw mild gains.
In retrospect, this seems to have been due to pulling from 2021's supply of grains....
Interesting area here on WEAT. Support area. Daily divergence and oversold otherwise. Seasonality is positive. Stop would be any move below recent low. Targets tbd.
The fund seeks to achieve its investment objective by investing in Benchmark Component Futures Contracts. Under normal market conditions, the manager expects that 100% of the fund's assets will be invested in benchmark component futures contracts and in cash and cash equivalents.
Whats going up when markets going down pt1
not a supply chain specialist but im pretty sure
with drought weather, inflation and rising gas prices
SENNA SEASON
WHEAT had a beautiful breakout candle yesterday, breaking the prior consolidation zone. I'm most interested in this idea because once I ran fib retracements there is so much alignment: 618 is perfect prior support, 0.5 is a teeeeny tiny gap, 382 is a consolidation zone, and we've defeated 236.
Follow through and it is off to $10 at minimum. TP/SL targets...
2 months of volume dry up during this multi-month wedge basing pattern. Seasonal strength in play.
You don't need to know what's going to happen next to make money ~Mark Douglas
Lose like a pro and keep trading, or lose like a novice and quit ~Mark Ritchie
I know, it's the grandpa trade, but honestly this is looking stunning for a steady move up to at least all time highs (50% move) and probably higher, my guess is into the 20's. Best to wait for 8.50 to be taken and then buy dips. Check out the other charts below for a longer term view.
