Midday update for Wheat price 12-05-2021

Sugar price shows more bullish bias to move away from 18.00 level, reinforcing the expectations of extending the bullish wave in the upcoming period, and the way is open to head towards our next target at 18.87, which achieving it requires holding above 17.40.

Soybean price succeeded to achieve our waited target at 1600.00 and attempts to breach it, to support the chances of continuing the bullish trend on the short term and medium term basis, noting that the next station reaches 1630.00, while holding above 1573.30 represents key condition to continue the expected rise.

Corn price settles above the bullish channel’s support line, getting continuous support by the EMA50, thus, our bullish overview will remain valid for today, which depends on the price stability above 700.00 and 690.00 levels, while our next target is located at 730.00.