Wheat Price Analysis Wheat price faced negative pressure yesterday, breaking 552.80$ and closing the daily candlestick below it. Starting today with additional decline confirms stopping the bearish correction and returning to the main bearish track again. This opens the way to achieve negative targets starting at 535.00$ and extending to 525.40$. Therefore, the bearish bias will be suggested for today, supported by moving below the EMA50.

Notably, breaching 552.80$ will stop the current negative pressure and lead the price to recover again.

The expected trading range for today is between 530.00$ support and 553.00$ resistance.

Trend forecast: Bearish