NewsSignals AI analysis·Reuters·
CBOT wheat still targets $6.13-1/4
Grade Bbearish AI signal$ZW
CBOT December wheat remains technically bearish after breaking below key support at $6.47-3/4 per bushel, with the next downside target at $6.13-1/4.
Technical analysis identifies $6.22-1/2 as an intermediate support, while immediate resistance stands at $6.31-1/4, with a break above potentially opening a move toward $6.34–$6.36-3/4.
A decisive break below $6.13-1/4 could intensify selling pressure and expose wheat to a further decline toward $5.89-1/2.
Bullish strength: 20/100
- A break above $6.31-1/4 could lead to a gain toward $6.34–$6.36-3/4.
- The market may retest support at $6.22-1/2.
Bearish strength: 80/100
- The contract has broken below support at $6.47-3/4.
- The next downside target is $6.13-1/4.
- A break below $6.13-1/4 could expose a further downside target of $5.89-1/2.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.