Wheat Weekly Forecast, August 17 – 21

Wheat Price Forecast For This/Next Week
(August 17 – 21, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 487, which will be followed by reaching resistance level 519 and if it keeps on moving up above that level, we may expect the market to reach resistance level 543.

Downtrend scenario
An downtrend will start as soon, as the market drops below support level 487, which will be followed by moving down to support level 466.

Chart Wheat This/Next Week Forecast, Technical Analysis
chart: wheat market outlook, technical analysis

previous week wheat price forecast
Chart Wheat This/Next Week Forecast, Technical Analysis

Wheat Price Forecast 2020, Long-term
(Quarter III: July – September, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 466, which will be followed by reaching resistance level 541 and 573 – 591.

Downtrend scenario
The local downtrend may be expected to continue, while market is trading below resistance level 502, which will be followed by reaching support level 466 and if it keeps on moving down below that level, we may expect the market to reach support level 422.

Chart Wheat Forecast 2020, Long-term Outlook, Technical Analysis
chart: wheat technical analysis, market outlook

Wheat Price Prediction

According to Fundamental Analysis difference between supply and demand shows oversold market and the fair price at the level $540.

Wheat Market Fundamental Analysis Ending Stocks US With World
chart: wheat futures market ending stocks, inventory world with US

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