July KC Wheat Chart

Wheat prices also bouncing sharply off of Wednesday mornings lows. Technical indicators have turned higher so the chart and technicals look much better than they did the previous 3 weeks but the same thing is true for wheat, weather will be the key. Weather is primary driver for corn and bean prices and wheat, although we’ll be looking for any special stories in wheat, wheat will primarily be a general follower of the corn and soybean price direction.