March Wheat Futures Trading news and research – BrokersEDGE newsletter 2-11-19

March Wheat Futures Trading

Last Week’s Close: March wheat futures finished Friday’s session up 4 ¾ cents, trading in a range of 8 ¾ cents. Futures were down 6 ½ cents for the week.

Fundamentals: Wheat futures have been hampered by the longest dollar rally in two years and a stagnate corn and bean market hasn’t provided an ounce of tailwind momentum. Winter wheat acres came in at 31,290,00, the lowest since 1909, even this fell short of offering support to the market.

Technicals: The technical damage was done on Thursday as prices sliced through multiple technical indicators. The market is fluttering around the low end of last week’s trade, a break and close below opens the door for a bleed out. Bulls need to reclaim ground above 519-522 ½ to right the ship.

Bias: Neutral/Bullish
Resistance: 519-522 ½***, 531-532***, 537 ¾-541 ¾****
Support: 508-510**, 499-501 ¼****

If you have any questions about the commodity futures and options markets, trading or opening an account please let us know!

For more information please contact DAW Trading at or at 877-329-0006 and visit us at

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. DAW Trading (“DAW”) uses various outside sources for research material regarding futures and options on futures trading therefore the views and opinions expressed in this letter may not necessarily reflect the view of DAW or its staff. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to DAW.

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