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Wheat Futures (Continuous futures contract)Wheat Futures (Continuous futures contract)Wheat Futures (Continuous futures contract)

Wheat Futures (Continuous futures contract)

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USWHEAT.F trade ideas

Wheat Future - ShortDespite the news from Ukraine about missile strikes on the grain export ports. We have to take into consideration the top 5 exporters of wheat in the world. 1. Russia 2. United States 3. Australia 4. Canada 5. Ukraine This indicates that there is still competition for the top exporters. It will be in Russia's best interest to sell as much wheat at the lowest price to other countries. This would allow a bigger control of the market, despite "ethically" sourcing. Worth noting that just went through a double top scenario and in a "testing" phase. A price drop is expected. Lastly, for what it's worth, harvesting season is about to start in September, sending more grain to the market, while further driving the price down.
FX:WHEATFShort
by egah59222c
2
WHEAT BULLISH SCENARIONKyiv's goal is to establish direct access for international ships to their Ukrainian seaports for loading grain. However, Russia has reacted strongly to this development, stating that ships heading to Ukrainian seaports may be treated as potential military targets. The consequences of these actions by Russia have not only affected Ukraine but have also raised concerns globally. The United Nations has warned of a potential food crisis in the world's poorest countries due to Russia's decision to abandon the grain deal, which was brokered by the U.N. and Turkey. Ukrainian officials claim that since Russia's departure from the grain deal, they have targeted 26 port facilities, five civilian vessels, and approximately 180,000 tonnes of grain in a series of strikes over nine days. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
FX:WHEATFLong
by legacyFXofficial
1
Wheat retracement done?Chicago wheat tried to stage a Thursday recovery but faded a dime from the earlier highs to close 2 1/4 to 3 1/2 cents in the red. Spring wheat prices also faded 5-9 cents from their intra-day highs, but held onto 3 3/4 to 7 1/4 cent gains for the close. HRW futures extended the week’s pullback with another 5 3/4 to 7 1/2 cent losses on Thursday. The weekly Export Sales report showed 155,167 MT of wheat was sold during the week that ended 6/22. Estimates were to see between 50k and 400k MT. By class, HRS makes up 30.3% of the committed 23/24 business. HRW sits at 22% with 30% for SRW. Russia’s 23/24 wheat harvest has begun, according to the Ministry of Agriculture Russia has harvested 2 MMT of grains through 6/28 - ahead of last year’s pace. The Russian Federation has planted 55.6m HA through 6/28, which is more area than last year but the planting pace as a percentage of expected area is inline with average. Jul 23 CBOT Wheat closed at $6.53, down 2 3/4 cents, Sep 23 CBOT Wheat closed at $6.67 1/2, down 2 1/4 cents, Cash SRW Wheat was $6.08 3/8, down 1 5/8 cents, Jul 23 KCBT Wheat closed at $7.94 1/4, down 6 1/2 cents, Cash HRW Wheat was $7.52, down 7 3/8 cents, Jul 23 MGEX Wheat closed at $8.07 1/2, up 3 3/4 cents, On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
PEPPERSTONE:WHEATLong
by ShukriMahadi
WHEAT FUTURE 1D reversal candle, support lev LONGHello fellow traders, this idea is based on the support/resistance levels and candle formation. The price has bounced off the support level and reversal daily candle formed which suggest finally the trend is to change. The take profit at level of 700 being the psychological and resistance level tested previously. The trade is at 1:2 risk to reward ratio, always be prepared to close the trade not loosing too much and trade with rewards at least as high as reward never less :) RE<MEMBER- This is just an idea not a trading advise!
FX:WHEATFLong
by lb-counts
Can we have an inverse shoulder?Key Takeaways Wheat market is facing both bullish and bearish news, creating risks for traders and emphasizing the importance of risk management. Hard red winter wheat crop is shorter than both USDA projections and trade expectations, but news of overpriced wheat in the US and milling wheat from Europe entering the market created bearish sentiment. World markets, including weather conditions in key wheat-producing countries like Argentina, Australia, the US, Russia, and Canada, will play a crucial role in determining future wheat prices.
PEPPERSTONE:WHEAT
by ShukriMahadi
Wheat (The revenge of the fallen!) View On Wheat(16 May 2023) Wheat is in * Uptrend in short term (Intraweek) * Uptrend in Mid term (Intramonth) * Downtrend in Long term (Last 3 months) We had a strong wake up call yesterday and it ends with bullish tones. Now $640 region is acting as strong support and it can rise higher for now. We shall see $700 region soon. Let's see. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading crypto, foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
FX:WHEATFLong
by SonicDeejay
Descending Triangle Setup on Wheat, Target at 525Overview The main view of this trade idea is on the Daily Chart. The commodity Wheat is in a descending triangle setup, with the resistance trend line at lower highs of 949.08 and 798.34. These lower highs occurred on 10th October 2022 and 30th December 2022 respectively. The support line is observed around the 730 price level. Expectations are for the support at the 730 price level to break and the commodity will decline towards 525. A negation of this view will result in Wheat rallying above 800. Technical Indicators Some technical indicators corroborate the chart pattern setup. The Supertrend indicator is in a sell mode and the Awesome Oscillator is below 0 and Red, indicating a downward trend. The RSI for the commodity is also below 50. The intra-day trend following indicators of Wheat also show downtrends in the 15-Min, 2-Hr, 4-Hr and Daily timeframes. Short term resistance is observed around the 730-770 price range. The longer-term view also show Wheat in a downtrend. It broke below trend in late June 2022 and has been below trend ever since. Indication of a downtrend has been utilized using the 28-Week Simple Moving Average. A change in the long term trend would occur, at the time of writing, with a weekly close above 805. Recommendation The recommendation will be to go short at market, with a stop loss at 800 and a target of 525. This produces a risk/reward ratio of 2.97. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time of writing, I have exposure to Wheat.
FX:WHEATFShort
by Ceddy86
Wheat to continue sideways but in a broader rangeOn Monday, Ukraine struck several Russian ships-turned-submarines, Russia wanted to withdraw from its grain corridor agreement. Earlier today, Turkey has re-emphasized that corridor will remain in place. Both news had major impact easily seen in the Wheat futures charts. I think it will calm for a few weeks ahead now. Random unscheduled news are more likely to be bulish though. Another clue to where the price will go over the coming weeks is in the further-away contracts prices, specifically ZW3 trades roughly 20 dollars above ZW1. As the rollover time approaches, the prices are likely to converge which is bullish for current contracts. In my opinion, the market will remember today and will not go below $822 as it was just reminded of the risks. This means that I am looking for speculative longs near the bottom - that will possible be hit during another market-wide high-volatility news, FED press conference later today.
FX:WHEATFLong
by OrcChieftain