By
SINGAPORE: CBOT wheat may retest a support at $8.58-1/2 per bushel, a break below could cause a drop to $8.47-1/4.
The depth of the fall from $9.22-1/2 confirms a reversal of the uptrend from $8.19-1/4.
Only one participant in country’s wheat tender
Indeed, the whole uptrend from $7.43-1/4 may have reversed. Resistance is at $8.76, a break above could lead to a gain to $8.93-3/4.