Wheat Prices: Recovery Amidst Bearish Trend

Wheat prices have seen a notable recovery after a significant decline, with a fourteen point four percent rally from mid-Octobers low to mid-Novembers high. Despite this, the long-term trend remains bearish, with prices sixty-three point nine percent lower than their March 2022 peak. Technical resistance levels around five dollars and ninety-four cents, six dollars and twenty-one cents, and seven dollars and twenty cents per bushel could signal a stronger reversal. Wheats recent upward movement mirrors that of soybeans, which have seen a more substantial recovery due to renewed trade discussions between the U.S. and China. Looking ahead, weather in key growing regions and potential decreases in output could influence wheat prices in 2026.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.