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Midday update for Wheat price 16-09-2020

Economies.com
2020-09-16 09:33AM UTC

Wheat price settles below 536.80 level, to fall under expected negative pressure in the upcoming sessions, paving the way to visit 520.20 level as a next main target.

 

Therefore, we will keep our bearish overview for the rest of the day unless breaching 536.80 level and holding with a daily close above it.

 

The expected trading range for today is between 525.00 support and 540.00 resistance.

The expected trend for today: Bearish

Midday update for Sugar price 16-09-2020

Economies.com
2020-09-16 09:33AM UTC

Sugar price shows additional positive trades to attempt to surpass the EMA50, on its way for potential test to the key resistance line 12.86, and as long as the price is below this level, our bearish overview will remain valid for today, as breaching it will push the price to return to the short term bullish track and achieve gains that reach 13.73.

 

The expected trading range for today is between 12.16 support and 12.86 resistance

 

The expected trend for today: Bearish

Midday update for Soybean price 16-09-2020

Economies.com
2020-09-16 09:33AM UTC

Soybean price trades with clear positivity now to breach 993.40 and attempts to hold above it, which hints the price head to regain the main bullish trend, and the price needs to hold with a daily close above the mentioned level to confirm the continuation of the rise and stop the morning suggested negative scenario.

 

Therefore, we prefer staying aside now until the price confirms its situation according to 993.40 to detect the next destination clearly.

 

The expected trading range for today is between 980.00 support and 1000.00 resistance.

 

The expected trend for today: Neutral

Midday update for Corn price 16-09-2020

Economies.com
2020-09-16 09:32AM UTC

Corn price keeps its stability above 362.40 level, to keep the bullish trend scenario active for today, supported by the EMA50 that carries the price from below, besides the positive signal provided by stochastic, waiting to resume the positive trading that its next targets located at 375.40 followed by 390.00.

 

The expected trading range for today is between 362.00 support and 375.00 resistance.

 

The expected trend for today: Bullish