The monthly CBOT Wheat chart is testing the highs of 1974 and 1976.
We consider this an important price level representing possible support ranging from 4.00 to 5.75.
Price has a memory with levels from 50- years ago impacting today.
More details are discussed in yesterday's video and can be found on our YouTube channel.
Trent Klarenbach, BSA AgEc, publishes the Klarenbach Grain Report and the Klarenbach Special Crops Report.
Klarenbach Research
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On the date of publication, Trent Klarenbach did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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