Midday update for Wheat price 18-12-2019

Sugar price settles below the EMA50, to keep the negative pressure suggested for today, waiting to break 13.25 level to activate the negative effect of the head and shoulders’ pattern that appears on the chart, to support the expectations of achieving more decline and heading towards our negative targets that begin at 13.05 and extend to 12.90, taking into consideration that the continuation of the bearish wave depends on the price stability below 13.53.

Soybean price shows slight bearish bias after testing 937.6 previously, noticing that stochastic begins to provide positive signals now, to support the chances of resuming the expected bullish trend for the upcoming period, which its targets begin by breaching 937.6 to reinforce the chances of heading towards 957.0 as a next station, reminding you that it is important to hold above 925.6 to continue the expected bullish trend.

The tight range dominates Corn Price trades since morning, and as long as the price is above 386.3, our bullish overview will remain valid for today, supported by the EMA50, besides stochastic approach to the oversold areas, reminding you that our next main target is located at 394.1