Wheat price declined yesterday to reach few pips away from our waited target at 603.10, showing some bullish bias by today’s open, affected by stochastic positivity, while the EMA50 forms continuous negative pressure against the price, to keep the bearish trend valid for the upcoming period, reminding you that our next target is located at 590.00.

On the other hand, we should note that breaching 629.40 will stop the suggested bearish wave and push the price to achieve new bullish correction on the intraday basis.

The expected trading range for today is between 595.00 support and 620.00 resistance.

The expected trend for today: Bearish

Sugar price declined strongly yesterday to break 25.25 followed by 24.90 levels and settles below the last level, to completed forming the double top pattern that appears on the chart and gets negative motive that supports the chances of continuing the bearish trend in the upcoming sessions, noting that the next targets begin at 24.30 and extend to 23.50.

Therefore, we are waiting for more expected decline on the intraday and short term basis, noting that breaching 25.25 will stop the current negative pressure and push the price to attempt to regain the main bullish trend again.

The expected trading range for today is between 24.20 support and 25.10 resistance

The expected trend for today: Bearish

Soybean price provided new negative trades yesterday to reach 1240.00 areas, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, reminding you that our next main target is located at 1200.00.

Stochastic loses its positive momentum clearly to support the continuation of the expected bearish trend, which will remain valid unless breaching 1274.00 and holding above it.

The expected trading range for today is between 1230.00 support and 1275.00 resistance.

The expected trend for today: Bearish

Corn price didn’t show any strong move yesterday, to fluctuate within sideways track, confined between the key levels represented by 550.00 support and 55.90 resistance, and as we mentioned in our last report, the price needs to breach one of these levels to detect its next destination clearly, which makes us continue with our neutrality until now.

We remind you that breaching the mentioned resistance will lead the price to resume the correctional bullish track and head towards 574.30 as a next positive target, while breaking the support will put the price under the negative pressure again, to resume the bearish track and visit 536.80 followed by 526.10 levels mainly.

The expected trading range for today is between 545.00 support and 562.00 resistance.

The expected trend for today: Neutral