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Wheat Price Keeps Declining: Forecast for June 19, 2024

by Jennifer

Wheat Price Analysis

Wheat prices have resumed their negative trading, moving away from the $605.80 level. This reinforces expectations of a continuing bearish trend, with a main target set at $576.90. The bearish channel is organizing this downward wave, which will remain valid as long as the price stays below $605.80.

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Expected Trading Range for Today

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  • Support: $580.00
  • Resistance: $605.00

Trend Forecast: Bearish

Wheat is expected to continue its downward trend, with technical indicators supporting further declines.

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