Wheat prices have demonstrated continued positive momentum, approaching the proximity of our awaited target at 639.30. Vigilance is advised at this level, as a successful breach could pave the way for additional bullish corrections, with the next target projected at 667.00.
As of now, the prevailing intraday trend suggests a bullish trajectory. However, it’s crucial to note that any break below 622.00 could exert downward pressure on the price, potentially leading to a test of 605.00 before any subsequent upward endeavors.
For today’s trading, the expected range spans from support at 620.00 to resistance at 640.00.
Expected Trend for Today: Bullish