Wheat Trade Update
Grain Market Technical Analysis
DEC KC Wheat reached the bottom end of my target range, and I took profits on my LONG position.
Targets have been reached on both the DEC KC and DEC CBOT trades.
These trades worked out nicely.
DEC MGEX has been lagging and is still in effect, waiting on an entry.
The chart below shows how the MGEX - KC spread.
The chart below shows how the MGEX - CBOT spread.
The declining green 50-Day Moving Average is overhead in both charts, so we anticipate that MGEX will continue to weaken against KC and Chicago.
Growers will want to review the link below for my analysis.
Premium subscribers can read the physical sale summary below.