Wheat

yabz

yabz

I'm going long wheat here reversing my short position. The drought in US will cancel out the higher supplies from Russia....
 
Looks like the downtrend selloff started in July has indeed reversed. Mid term the market seems like it has been in a period of consolidation as part of a much longer term downtrend.

IMHO from a swing trading perspective (a few weeks) your long could make sense. Long term you'd be swimming against the current.

Just my 2 cents, and I wish you good fortune !
 
I guess you entered based on fundamental.

Based on technical, we are now in bear flag region. price is moving in rather gentle up channel.
 
Minneapolis can go balistic depending on the number coming at 11. The situation is different in high protein wheats.
 
Wheat going down. The sell off started before the release in Minny. Almost shorted a bunch but it would have been a gamble. I would have taken part of it if the initial move was up...
 
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