Wheat Price Analysis

Expected Scenario

• Wheat price managed to touch our first waited target at 597.10$ and found solid support there, to show some temporary bullish bias, noticing that stochastic loses its positive momentum clearly now, to support the chances of resuming the negative trades that target 583.50$ as a next main station.
• Therefore, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 614.10$ and hold above it.

Expected Trading Range

Between 590.00$ support and 614.00$ resistance

Sugar Price Analysis

Expected Scenario

• Sugar price traded negatively in the previous sessions to attempt to move away from 19.82$, reinforcing the expectations of continuing the bearish trend, reminding you that our waited targets begin at 19.00$ followed by 18.50$.
• Stochastic provides negative signals that we are waiting to motivate the price to continue the decline, which will remain valid unless breaching 19.82$ and holding above it.

Expected Trading Range

Between 19.00$ support and 19.70$ resistance

Soybean Price Analysis

Expected Scenario

• Soybean price bounced downwards clearly yesterday to break 1170.00$ and start pressing on the next key support at 1155.00$, noticing that the price completed forming double top pattern that supports the chances of continuing the decline and return to the main bearish track again, on its way to test 1131.40$ as a first station.
• Therefore, the bearish bias will be suggested in the upcoming sessions, taking into consideration that breaching 1171.00$ will stop the current negative pressure and lead the price to attempt to recover again.

Expected Trading Range

Between 1130.00$ support and 1170.00$ resistance.

Corn Price Analysis

Expected Scenario

• Corn price fluctuates around the EMA50, showing weak trades in the previous sessions, waiting to get positive motive that assists to push the price to resume the bullish wave and breach 449.20$ to confirm opening the way to head towards 461.90$ as a next main target.
• Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 442.00$ and holding below it.

Expected Trading Range

Between 444.00$ support and 455.00$ resistance.