Wheat Price Achieves Second Target, Forecast for April 24, 2024

Wheat prices have surged to reach our second awaited target at $597.10, with yesterday’s closing above this level bolstering the likelihood of sustaining the bullish trend in the forthcoming sessions. This development sets the stage for further upward momentum, aiming towards the next positive milestone at $614.10.

The bullish outlook remains intact for the upcoming period, contingent upon the price holding above $583.50.

For today’s trading, the expected range is forecasted to be between a support level of $585.00 and a resistance level of $610.00.

Forecast: Bullish