Hard Red Spring Wheat

Grain Market Technical Analysis

New highs make me bullish.

The new highs of last week were no exception.

Then the price drops 9.5% in 5 days.

Now is the time to reassess.

Was the May 17 price the yearly high?

Is the uptrend still intact?

Is the correction over?

Let us look for clues in the charts.

****Click on the chart to expand****