| Almost perfect weather conditions across the principle growing regions in the U.S. and the prospect of record crops continue to push soft commodity prices lower. And with harvesting underway, this trend looks set to continue, with further good weather to come.
For U.S. Wheat, the bearish trend has been slow and steady, starting back in May with the commodity trading at 760 per bushel, before declining steadily, followed by a pause in the 580 to 620 per-bushel area, before that level was also breached, with a further move down followed by an extended phase of price congestion, which extended through the summer months in the 580 to 540 per-bushel region creating a strong and well-defined level of resistance and support...........................................Full Article: Source
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