March Soft Red Winter Wheat Futures
Posted in agriculture on November 26th, 2008 by Commodity Trader – Comments Off
March soft red winter wheat futures at the Chicago Board of Trade are presently trading in the middle of a four-week-old sideways trading range on the daily bar chart. That trading range is bound by solid technical support at last week's low of $5.15 1/4 and the November high of $6.08. The direction in which March Chicago wheat "breaks out" of the aforementioned trading range is likely to be the next significant near-term price trend in the market.