Commentary

Sep 25, 2023 | For Members

Daily Comments

Wheat There was a minor recovery to finish the week for December wheat last Friday, and while it probably did not strike fear into the hearts of too many bears, it was still enough to turn oscillators positive. As long as we can maintain closes above the 5.70 level, the…

Sep 22, 2023 | For Members

Daily Comments

Wheat Not unexpectedly, bears returned to the wheat market on Thursday, and December futures closed lower. We did not post a new low for the swing, but this was a new low close. Oscillators have just poked into the oversold zone but remain negative, so the path of least resistance…

Sep 21, 2023 | For Members

Wheat It was an uneventful day for December wheat, but we did at least close in positive territory. Oscillators continue to point lower, so bears should have the upper hand for another day or so, but the odds of remaining above last week’s low at 5.70 have improved. Sideways action…

Sep 20, 2023 | For Members

Daily Comments

Wheat While certainly not as severe as the losses on Monday, December wheat did close lower again yesterday, and with oscillators now pointing the way lower, we should be in line for a couple more days of pressure. A test of the existing bottom at 5.70 would be well within…

Sep 19, 2023 | For Members

Daily Comments

Wheat The mini-recovery in December wheat appears to have run out of steam, and with oscillators now turned lower once again, we could be in store for at least a few days of back-and-fill defensive trade. While I would like to think we will hold within the 5.90/5.70 zone, there…