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Wheat price under the negative pressure – Forecast today - 21-10-2024
Wheat price couldn’t manage to hold for long time above 599.00$, to rebound downwards strongly and settle below it again, which puts the price under expected negative pressure in the upcoming sessions, targeting 568.50$ areas mainly.
Therefore, we expect to witness more decline on the intraday basis unless breaching 599.00$ and holding with a daily close above it.
The expected trading range for today is between 570.00$ support and 595.00$ resistance.
Trend forecast: Bearish
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Sugar price loses momentum – Forecast today - 21-10-2024
Sugar price fluctuates around the EMA50 that forms good resistance against the price, noticing that stochastic loses its positive momentum gradually, waiting to motivate the price to resume the expected bearish trend for the upcoming period, reminding you that we need to break 21.55$ to confirm heading towards 20.80$ as a next target.
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Soybean price settles around 984.00$ level, waiting to get negative motive that pushes the price to resume the expected bearish trend on the intraday and short-term basis, reminding you that our next target reaches 960.30$.
MoreCorn price keeps its negative stability – Forecast today - 21-10-2024
Corn price tested 416.30$ level and kept its stability below it, and the EMA50 meets this level to add more strength to it, waiting to resume the bearish trend that targets 405.20$ as a next station.
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