AgResource Wheat Comment and Analysis
Wheat Markets Extend Rally; Russian Discount Widening: US/EU futures again ended steady to higher. Paris milling wheat’s chart looks increasingly bullish, technically, but Dec CBOT was unable to settle above its 200-day moving average. Resistance lies at $9.15-9.20. Key in the near-term is whether widening Russian discounts attract demand despite Black Sea turmoil. The attached…