Wheat Is Hanging on by a Thread

Wheat (July)

Technicals: Wheat futures are on the verge of a bigger technical breakdown if they cannot get back into positive territory today. The next support level below here doesn’t come in until 925-930, with the more significant pocket not coming in until 897-902.

Bias: Neutral/Bearish
Previous Session Bias: Neutral/Bearish

Resistance: 1027 ¼-1034 ¼****, 1095-1102****, 1142 ¾-1150***
Pivot: 982
Support: 960-967 1/4**, 925-930**, 897-902***

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