Wheat back at Key $1000 level
Wheat has been the most volatile commodity since the war started and we have fallen back to $1000 as peace talks improved.
Similar to Oil though peace will not fix the supply/demand issues with Ukraine and Russia accounting for 30% of wheat exports.
The consolidation period is likely over and if we can get some positive price action more buyers are likely to come back to a very tight supply market.
A close below $1000 would hurt bullish sentiment.
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Similar to Oil though peace will not fix the supply/demand issues with Ukraine and Russia accounting for 30% of wheat exports.
The consolidation period is likely over and if we can get some positive price action more buyers are likely to come back to a very tight supply market.
A close below $1000 would hurt bullish sentiment.
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party."
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