As mentioned earlier, time is running short for the seasonal to build another move up. I look for wheat to have another rally to make a new high for this move, but most likely that will be all we get. Upside targets are 2.94 basis Chicago July and the 3.48-3.54 range on KC July. Downside support is at 2.73 on Chicago July, and the 3.285-3.245 range on KC July. This publication is strictly the opinion of its writer and is intended solely for informative purposes and is not to be construed, under any circumstances, by implication or otherwise, as an offer to sell or a solicitation to buy or trade in any commodities or securities herein named.
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