July KC Wheat Chart

Wheat prices also posted a new high by just a penny but did trade to $6.54, taking out the highs from last week. That keeps the chart pointed in an upward direction. But today’s disappointing close at, $6.30 which was 24 cents off the daily high was a little bit of a negative. Bottom line, chart and technicals look pretty good but today’s poor close gives the bears at least something to cling to.