Wheat Weekly Forecast

This/Next Week Forecast (December 21 – 25, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 592, which will be followed by reaching resistance level 625.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 592, which will be followed by moving down to support level 572.

Chart Wheat This/Next Week Forecast, Technical Analysis

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

Fundamental Analysis

Difference between supply and demand shows fair price between the levels 500 – 540.

Wheat Market Fundamental Analysis Ending Stocks US With World

Monthly Forecast, December 2020

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 633, which will be followed by reaching resistance level 675 – 705.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 580, which will be followed by moving down to support level 543 and 500 – 473.

Chart Wheat Forecast 2020, Long-term Outlook, Technical Analysis

previous month forecast

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