July KC Wheat Chart

Wheat prices like corn are in a long-term uptrend and intermediate uptrend but the short-term trend has turned down to a small degree with the technical turning down as well.

So, corn, soybeans, and wheat do look like there is some potential for a farther correction to the downside if we can’t get some friendly news over the next few days.

Some good news for wheat is we consolidated Friday and consolidated today so there is a sign that maybe the correction we seen the last 3-4 days is enough.