🌾✨ U.S. Wheat Futures (ZWH2026) — Market Snapshot
📈 Trend: Downward
📉 Russia eliminated the wheat export tax.
🌍 Argentina is recording a record crop.
🚢 Supply signals from Europe are also adding pressure.
📊 Technical Indicator: 📉 RSI: 59.42 — neutral momentum
🔁 Fibonacci Retracement levels in play, with prices gradually edging toward the 23.6% level.
💰 Support: 🟢 501 USD/bu
🎯 Remain cautious: Oversupply and surplus stocks may keep prices under pressure.
💵 Resistance Zone: 🔴 518 USD/bu
📉 Traders watching this area for potential profit-taking or short entries.
📊 Open Interest: 📄 282.25 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.
