Wheat Price Analysis

Expected Scenario

• Wheat price shows positive trades to test the broken support of the bullish channel, noticing that stochastic lost its positive momentum to show clear overbought signals, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets 552.80$ followed by 541.80$ levels as next main stations.
• Holding below 569.80$ is important to the continuation of the expected decline, as breaching it will lead the price to achieve additional bullish correction that its next target reaches 583.50$.

Expected Outcome

The expected trading range for today is between 555.00$ support and 572.00$ resistance.

Sugar Price Analysis

Expected Scenario

• Sugar price succeeded to achieve our waited target at 19.82$ and settles there, and we suggest the continuation of the bearish bias to surpass this level and achieve additional negative targets that reach 18.50$.
• On the other hand, we should note that the consolidation of 19.82$ level against the current negative pressure and failing to break it will lead the price to start intraday bullish wave and achieve gains that start at 20.50$ and extend to 21.35$.

Expected Outcome

The expected trading range for today is between 19.40$ support and 20.10$ resistance.

Soybean Price Analysis

Expected Scenario

• Soybean price settles below the bearish channel’s resistance line, falling under continuous negative pressure formed by the EMA50, to keep the bearish trend scenario active for the upcoming period, reminding you that our next target is located at 1131.40$.
• On the other hand, we should note that breaching 1193.10$ will stop the expected decline and lead the price to achieve new bullish correction that its next target reaches 1231.20$.

Expected Outcome

The expected trading range for today is between 1150.00$ support and 1190.00$ resistance.