Midday update for Wheat price 20-05-2020

Sugar price provided positive trades to move away from 10.60, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, affected by the previously completed inverted head and shoulders’ pattern, waiting to target 11.45 followed by 12.16 levels as next main stations, reminding you that it is important to hold above 10.60 and 10.45 levels to continue the suggested bullish trend.

Soybean price did not show any strong move since morning, to continue fluctuating around the EMA50, thus, no change to the bearish trend scenario that depends on the price stability below 850.50, while its targets begin at 838.00 and extend to 816.30 after surpassing the previous level.

Corn Price shows negative trades to approach 317.00 level, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, which needs to break 317.00 to ease the mission of rallying towards our main target at 307.60.