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US Wheat Futures - Jul 24 (ZWN4)

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600.12
-11.76(-1.92%)
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US Wheat Futures Discussions

Sold that spike still lookin golden rule lol
I think he got cleaned out. Another one bites the dust. Tough profession. Have to have solid rules and stick to them. GJ
Hope that was the first spike.
Now that soybeans is starting to make the support, we have wheat and corn breaking low again. How to understand that?
gap 388 too close to be missed lol
I said that you munawar right ?
Speculation manipulation crazy ridiculous what's ever ...
All of a sudden some big volume coming with the price moving up, seems like 577-578 gets taken out today itself, lets see, cheers.
Well technically if we retrace the entire move down from 577 to 540 and now come back to 577, which seems very likely this week, then its a 100 percent retracement, in which case we can expect a 200% move from the 540 low, which takes it to 610-615 range, so keep a watch for a daily closing above 577. It would be a very positive sign. cheers.
It seems the big boys have achieved what they wanted, they took it down only to stop out retail and make us bearish and now they are taking it up, lol, cheers.
it depends if it will be a real reversal or just a deadcat bounce….i wont increase my bag better wait for 700 than average to aim 660 and to be trapped with this garbage going much lower
well from long term technical perspective wheat is in sell mode below 610. if for some reason wheat closes above 610 on weekly lvl, we might expect 6.25 6.50, above we would be in bullish territory and we might expect higher prices... as of now you can possibly expect some pullbacks, but some minor support at 520, but most probably we are heading to 480 460 area with max extension to 420.... view next few months up to Q22024. not a financial advice but probbabilities based on a long term chart
-6 today
0/2
I think alot of market participants thought that this would continue lower today. If I was short, I would be stuck worrying if Friday was the washout bottom. Friday and Monday were the two highest volume days by far for December Chicago Wheat. Every tick higher puts pressure on the massive short position to cover which causes more short funds to think about covering and so on. Chain reaction. I don't think the longs necessarily even need it, but throw in some substantial news out of the Black Sea and the market could get wild very quickly. Sentiment is so washed out that most everyone seems to have forgotten how quickly this could change course. It's usually said that markets take a staircase up and an elevator down, but I think we could have the opposite brewing here due to the combination of the big short position and the many geopolitical risks out there.
Teliing again will end red
Went back up and would have missed my entry by 2 tics. ug. Now watch it climb and climb.
that didn't age well
Green is the new Red
Will end red
Long awaited +20% day lol
can't happen
I know but i need that to get out of the mud lol
Roughly 50% of Friday drop recovered. I have the faulty impression that we will see another low 533 to 535 this week.
Dead or do something?
What a sinusoidal move very close to natural gas….i hoped in a strong bounce to 700/750 but this thing aimining straight to 300/350 lol
you mean self destruction for Europe?
I mean i burnt more than half of what i put in a etfs lev3 wheat and thats enough lol
If the financiers are manipulating the market, all US wheat producers should bury 15% of their harvest back into the ground and sell wheat in a month at prices 50% higher than today.
So what, 510 or so to confirm that double top? Or does a guy go off volume? Someone bought the dip hard
Only. Go. Down
Gap 388 too close to be missed
Im gonna share a reasoning I've made today, not knowing nothing about wheat market, but trying to understand if this might be a good buying opportunity. 1- USA production is much higher than consumption (so, independent). 2- Wheat production projection for 2023-24 was 786 million tonnes in July 2023, a 17 million tonnes decrease from the previous year, while wheat consumption forecasts were increased by 8 million tonnes from the last forecast to 803 million tonnes (no increase in stocks, globally). 3- Prices of the kg of wheat are about 0,2$ in Chicago, 0,25$ MATIF Euronext Paris, 0,24$ Port Novorossiysk (Black Sea). So, lower prices in the US than in other parts of the world (wheat quality might be different?) 4- Minimum cost of production of wheat kg in Nebraska was around 0,23$. (Although, Nebraska might not be a true indication of the production cost.) If this was the minimum cost of production, the price of the bushel should be around 6,25$ (625 cents) to make production sustainable. Would like to hear your opinion.
The world is rejecting GMO now deceitfully renamed Bioengineered food. US remains the human lab rats.
you need to eat more gmo might make you smarter
I think you are correct. The world is rejecting US GMO Wheat. The World will start Buying More RUS Wheat & it will go up. I look for the Rest Corn, SOY...
All GMO now being called bioengineered is what's being rejected. It's clot shot Plandemic tech. The world did well without it and would again.
Technicals seem bad..4xx may be tested
It has fallen both under fibo supports and long term averages..under 540 there is no real support till 430-450
Yes, everything is really terrible for wheat. Tomorrow at open panic continues and limit down
https://www.investing.com/etfs/teucrium-wheat it seems half of the drop up after seans
They need to reduce the inflation to 2% thats why wheat is down and going to 526 and if close any day below that it will go to 477 good luck
What? Wheat is a tiny, tiny part of the CPI index in US.
Yes, I think there is also political game using wheat against oil..both to battle against Russia and inflation together
In September 2022 wheat stocks were 1,778 millions bushels and now it's 1,780. So virtually unchanged BUT the price of wheat is down 41% from a year ago. I honestly can't recall such "illogical" price action.
So last year at 1,770 there was no oversupply and the price was much higher while now 1,780 is regarded as oversupply?
my dear need understand that stocks all about going against the majority
Fundamentals should matter but this market is rigged just like all markets in these times.  Major players like Cargill move the market to blow out stops perhaps, and then go long as the weak longs sell.  This was a 3 standard deviation move.  It either turns up here - my bet - or it's going a whole lot lower.
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