Chicago Board of Trade (CBOT) wheat futures declined for a second straight session on Tuesday after the U.S. Department of Agriculture (USDA) rated the winter crop at its highest early spring level in five years.
-The market was also pressured by crop-boosting rains forecast for the southern U.S. Plains wheat belt and by limited U.S. export demand due to cheaper...
Chicago Board of Trade (CBOT) wheat futures rebounded on Wednesday after two sessions of losses as technical buying and short covering lifted the market.
CBOT May soft red winter wheat ended 10-3/4 cents higher at $5.56 a bushel. The benchmark contract fell to a one-week low early in the session but found technical chart support at its 20-day moving...
Chicago Board of Trade (CBOT) wheat futures fell on Monday as traders expected the U.S. Department of Agriculture (USDA) to report the strongest winter crop ratings in eight years in a weekly report due for release later in the day.
Wheat futures were also pressured by large global stocks and limited U.S. export demand as rival suppliers are offering their...
Supply and demand zones for Wheat on the weekly chart.
Once you enter the zone, look for the lower timeframe reversal patterns, extended waves, classic trendline breaks, etc.
Drop down to the Daily for refined supply and demand zones.
Drop down to 1 hour chart for the current trend after you see the reversal pattern.
wheat is ready to go... excellent RR here... not only 3.5 to first target, but ocasion to build position towards much lower... moving stops to Be or trail
*not financial advise
Wheat prices are high,
Over the month you will notice this change and
so you may be asking yourself why?
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The wheat prices are linked to how well the economy is doing,
knowing this, about its prices you will see by looking at the chart,
That determines this.
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According to Reuters, China has cancelled buying wheat,
this affects the global wheat...
A monthly bulldiv, a resistance turned support, and a falling wedge on the monthly that is breaking out (to the right) now, what else do you need?
In the Grain complex, farmers have stubbornly held onto their stores past the December 2023 sale period because they didn't like the prices. The storage basis has ticked up since then. Maybe one more month of high...
I will monitor price action on this floor and have set alerts for entry.
Wheat futures need a correction to the upside.
Let me know your thoughts.
The Professor
Wheat (ZW1!) has been trading within a long-term Channel Down pattenr since July 2022. The price is currently on a bearish sequence below both the 1D MA200 (orange trend-line) and 1D MA50 (blue trend-line). It appears that technically this is a Bearish Leg following the December 06 2023 Lower High rejection, similar to the one that started on the October 10 2022...
CBOT:ZW1! Wheat is currently located in a weekly Fair value gap . On the daily chart we have been rejected by the FVG (checkpoint "1") and we reached (and totally respected) the volume imbalance (checkpoint "2") . After that point price may go up or down. We should see how market opens in Monday. One possibility is that wheat might be pricing higher , heading...
CBOT:ZC1! CBOT:ZS1! CBOT:ZW1! Those commodities had a very interesting price path so far. Since the Russian invasion these three commodities lost a lot of their value. More specifically wheat lost around -50% from its peak, corn -45% and soybeans around -30%. The ag-commodities market is pricing clearly in an oversold area that I think ,in my opinion , is...
One thing that never seems to change is as one sector advances another lags and while one lags the another advances. The allure of a rising market and fear of reversal in another causes capital rotation.
Looking at risk on assets they have made quite the advance into old highs and some all time highs while many commodities are reaching old lows and past long...
CBOT: Wheat ( CBOT:ZW1! )
In stark contrast to the rising stock market, most agricultural commodities have lost ground in 2023. In the Grain & Oilseeds market, CBOT Soybean (ZS) finished the year at $12.73 per bushel, down 14.7% year-on-year. CBOT Corn (ZC) closed at $4.63/bushel, down 30.8% YOY. CBOT Wheat (ZW) settled at $5.93/bushel, down 24.5%.
In the...
