Wheat prices are also showing some signs of wanting to turn lower in the short term, although the longer-term trend is still pointed upward.

The short term turn in the chart may be the desire for long position traders to be taking some profit and could allow this wheat market to slip lower with the next area of major chart support a double bottom around 10.27.

If we did push that level, it could push the technical down in to the oversold range and that would likely become a buying area somewhere in the lower $10 range.