Continuing the topic of spreads between related commodities, the Hard Red Winter Wheat – Soft Red Winter Wheat spread is another one trading at an extreme level now.
A brief explanation on the different types of wheat we are referring to here:
1) The Hard Red Winter Wheat (HRW) is the most widely grown class of wheat. A high protein product, used for breads,...
❶ Warning
Operations in the Blockchain or FX market represent a high risk. Cryptoz18 is a content creator who posts his ideas for viewers however he never provides an investment recommendation. I recommend to the reader a good risk management and knowledge regarding the environment. Thank you very much.
❷ Tutorials
➤ Here you can find a brief explanation of...
Has the wheat market been forgotten? With wheat prices almost back to early February levels, right before the start of the Russian-Ukraine conflict, markets seemed to have erased all fears of a tightening wheat supply due to the conflict.
The recent selloff in wheat partially stemmed from the market belief that the situation in Ukraine is improving and that...
Buy July Kansas City wheat market 1st TP @12.30 Stop @11.18
**Trading commodity futures and options involves substantial risk of loss.
The recommendations contained in this letter is of opinion only and
does not guarantee any profits. These are risky markets and only
risk capital should be used. Past performance is not indicative of future...
10yr KC Wheat outlook: Potential course of the KC Wheat market for the next 10 years. Overall the Wheat chart takes a more gradual incline up over the past 50 years but when the market gets spooked, prices can rally in a violant way. After this market tops, I feel the World’s supply and demand fundamentals of all Ag Commodities could support a more gradual...
KC Wheat – 3mo Continuous: Comparing our current Bull market with the previous major bull markets of the past 50 years. Currently the 24 mo ROC high was set in March at 225% with a price of 12.99. If KC Wheat is to match the 06-08 ROC of 275%, then that would project a price of $15.00
**Disclosure** Do not take this as trading advice. The potential is there...
Using the low to high retracements, KC Wheat is currently finding consolidation of support in the 10.20 area. Below 10.00, lower targets remain at 9.56 and 8.62. Volume based risk down at 8.07.
If we can confirm the recent low at 9.93 I will draw upside retracement targets. For now resistance above at 10.75 to 10.95.
Cont KC Wheat - Weekly: Some indecision the past few weeks with price action working above the Blue Tenkan and below the red Kijun lines. Upside targets remain at 8.75 to 8.92. A breakout above the 8.92 high has targets up to 9.84. Support is 7.43 with further retracements at 7.07 and 6.51.
Hi Folks,
Wheat has entered a bull run with a 50/200 ema golden cross as well as a 100/200 ema bullish cross for the first time since 2010! The prior run was from 2010 to 2016. Bearish from 2016 until late 2020 where we first see some bullish crossings. These stages tend to last anywhere between 4-6 years so we should see some continuation.
As far as the...
Cont KC Wheat - Weekly: Retracements on the Left are from the 08’ High and the 19’ Low. Keep an eye on them on this trend up.
The current leg has us between the 8.92 pivot and the 7.81 pivot. A move lower will look for support at the red Kijun line around 7.35.
A move above the 8.92 high would next target a leg higher to 9.61…
Cont KC Wheat - Monthly: New highs recorded this week within .04 of a 38% retracement target off the 2008 high and the 2019 low. Should KC Wheat decide to move higher yet, the 50% target is a $1.50 higher at 8.87. WOW, it sure seems like a mile to get there but as you can see on the monthly chart, when wheat decides to move it usually does in quick regards. ...
Cont KC Wheat - Weekly: The recent correction lower found support against the blue Tenkan line. Targets above can revisit previously filled objectives. A new high would push targets at 7.62, 7.85, 8.08 and 8.42….
Support at 6.70 and 6.55
Sep KC Wheat – Weekly: A bounce off the cloud last week and follow through to the upside so far this week. The first hurdle was the 24% retracement at 6.17. Resistance at the red Kijun line currently at 6.56 would line up with the 38% and 50% retracement targets. Plenty of volume in the 6.20 to 6.50 price range. This could offer support for a trading range...
KC Wheat – Weekly Cont: Currently led by the Sep contract. KC wheat slid hard after filling the Primary target at 7.41. Using the swing low at 5.78 to base updated targets from, 6.40 and 6.59 will be the initial hurdles to jump over in search of the 7.06 and 7.22 targets. Support is 5.78, 5.52, and 5.31
