Caterpillar stalls - Analysis - 12-05-2021

Wheat price is affected by stochastic negativity, to show some slight bearish bias now, and as long as the price is above 726.80, our bullish overview will remain valid and active for the upcoming period, supported by the EMA50, reminding you that our next target is located at 758.00.

Sugar price shows more bullish bias to move away from 18.00 level, reinforcing the expectations of extending the bullish wave in the upcoming period, and the way is open to head towards our next target at 18.87, which achieving it requires holding above 17.40.

Soybean price succeeded to achieve our waited target at 1600.00 and attempts to breach it, to support the chances of continuing the bullish trend on the short term and medium term basis, noting that the next station reaches 1630.00, while holding above 1573.30 represents key condition to continue the expected rise.