🌾✨ U.S. Wheat Futures (ZW1) — Market Snapshot ✨🌾
📈 Trend: Range Bound
🌍 Strong global competition continues to limit upside momentum.
⚠️ Aggressive Russian exports have intensified price pressure across global wheat markets.
📊 Technical Indicator: 🔁 Support & Resistance Levels
🐄 Heading towards a “Three Black Crows” pattern — signaling potential short-term bearish sentiment.
💰 Support: 🟢 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: 📄 207.12 K contracts
🪙 Indicates active participation and consistent interest in wheat positioning.
🛢️ Future Type: 🌾 U.S. Wheat (ZW1)
📍 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.
