Wheat price approaches the target – Forecast today - 28-10-2024

Sugar price bounced bearishly again after testing 22.15$ level in the previous sessions, but it found solid support at 21.55$, waiting to get negative motive that assist to push the price to break this level and confirm the continuation of the bearish trend on the intraday and short-term basis, reminding you that breaking the mentioned level will push the price towards 20.80$ direct.

Soybean price couldn’t manage to hold for long time above 1000.00$ barrier, to trade negatively and head towards resuming the bearish track again, and we suggest visiting the recently recorded low at 960.30$ as a next main target.

Corn price faced clear negative pressures in the previous sessions, as it broke 425.30 level and settled below it, to head towards achieving expected decline on the intraday basis after recording lower high as appears on the chart, on its way to test 416.30$ initially, noting that breaking it will push the price towards 405.20$ on the near-term basis.