🌾✨ U.S. Wheat Futures (ZWH2026) — Market Snapshot
📈 Trend: Range-Bound
📉 Global output and ending stocks are at record levels.
🌍 Argentina raised its crop forecasts to near records.
🚢 Russian shipments remain competitive and steady.
📊 Technical Indicator: 📉 RSI: 42.69 — neutral momentum
🔁 Fibonacci Retracement levels in play, with prices gradually edging toward the 38.2% level.
💰 Support: 🟢 530 USD/bu & 516 USD/bu
🎯 Remain cautious: Oversupply and surplus stocks may keep prices under pressure.
💵 Resistance Zone: 🔴 550 USD/bu
📉 Traders watching this area for potential profit-taking or short entries.
📊 Open Interest: 📄 236.75 K contracts
🪙 Indicates active participation and consistent interest in wheat positioning.
🛢️ Future Type: 🌾 U.S. Wheat (ZWH2026)
📍 Traded on the Chicago Board of Trade (CBOT) — a global benchmark for wheat pricing.
It’s a caution that the information provided is for knowledge purposes only and should not be taken as a recommendation to buy or sell assets.
