Wheat prices failed to maintain a position above $599.00, leading to a strong downward rebound and a return to levels below this threshold. This movement places wheat prices under negative pressure, with expectations of further declines targeting the $568.50 region in the upcoming sessions.
As a result, continued declines are anticipated on an intraday basis unless wheat breaches the $599.00 mark and secures a daily close above it.
The expected trading range for today is between $570.00 (support) and $595.00 (resistance).
Trend Forecast: Bearish
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