July KC Wheat Chart 5-21-21

Wheat prices also falling sharply over the last couple of weeks. The highs a double top at $7.41. Today’s low was $6.15. July KC wheat has fallen $1.25 in just the past two weeks. Pressure from corn and beans have pushed wheat low but also the Wheat Quality Council tour that took place this week indicated record wheat yield potential in KS and surrounding areas has pressured wheat prices to extremely oversold levels and getting close to major chart support therefore this is no place to be making sales in wheat.