A high-low bottom developing above a rising trendline has taken shape. It confirms a completion of the drop from 4,192 ringgit and the continuation of the uptrend.
The contract is presumed to be riding on a wave c, which is capable of travelling below 3,659 ringgit. This wave may end around 3,659 ringgit, if it is very weak.
On the third month continuous chart, the contract seems to be riding on a wave c, which is capable of travelling far below the nearest support at 3,659 ringgit
The consultancy said in a report that the harvest could include 27.6 million tonnes of wheat, 7.97 million tonnes of barley and 35.71 million tonnes of corn. It said a higher output would allow Ukraine to increase grain exports to 54.2 million tonnes in 2021/22 season from 45.6 million tonnes in 2020/21.