Wheat prices are in a sharp downtrend and have been for nearly two weeks. We made a low this morning at $6.19. Wheat prices did rebound and closed at $6.33 so they did close 14 cents off the daily low but were still sharply lower on the day. Technical indicators are extremely oversold, about as oversold as they ever get and therefore this is no place to be making sales. We can’t rule out prices moving a little lower but wheat prices are again getting undervalued and extremely oversold from a technical perspective and this is no place to be making sales.