Wheat:
Price has traded down over 20% in about 5 weeks time and shows signs that the move to the down side is mature. The picture of last week's price development suggests that we should expect one more mild move to the downside after which we anticipate a 10% rally. Traders keep their powder dry for one more week and can start looking for a long play opportunity at 405/395 with a stop at 380 during week 29.
Price has traded down over 20% in about 5 weeks time and shows signs that the move to the down side is mature. The picture of last week's price development suggests that we should expect one more mild move to the downside after which we anticipate a 10% rally. Traders keep their powder dry for one more week and can start looking for a long play opportunity at 405/395 with a stop at 380 during week 29.