December CBOT Wheat

Thanks. I have tried several times. Charting in esignal is easy, saving on desktop as .gif or .png is ok, browsing for the file also works fine but it fails to upload/publish the graph files.
I'll try again with a C Z3 chart.


  • c z3.png
    c z3.png
    203.2 KB · Views: 450
Postive divergence


I meant positive divergence in MOM only, not in MACD and MOM. Sorry about the mistake. Here's the chart.

Best regards and good trades !


  • wz30916.png
    21.9 KB · Views: 362

Thanks for feedback. Momentum is indeed picking up. Interestingly, OI was also up yesterday (a down day!). It becomes increasingly tempting to try a long position risking 9 (stop - 347.5) but a lot of upside (target > 400) if WZ3 can break through the falling window near 366.

Let's wait another day. Grains & Softs currently seem to be very correlated to USD (eg neg corr).


  • w z3.png
    w z3.png
    187.2 KB · Views: 389

Any upward move has to be analyzed critically. We might see a technical correction, due to short covering here. Or the uptrend resumes, which is often indicated by the front spreads (like WZ3/WH4) starting to go up as well. What you could try is a long with a tight stop under support at the 348 area. Might make it a reverse stop even. Just an idea, not a recommendation. It seems that the soybeans are also having a good day today.

Good trades !

thanks. I have been playing with idea. How has the spread moved in recent days? I see it's down to 9 1/4.
Pattern in Soybeans & cotton look a bit similar, gapping up for several days, and now stalling. If S doesn't go higher today, it will have made 5 days in row with lower highs! have you seen the Coffee chart? Collapsed when funds exited! Support at 6100-6000?


  • kc z3.png
    kc z3.png
    203.5 KB · Views: 360

The wheat front spreads have been pretty tame the last few months. Basically an indication that there is no major imbalance between supply and demand. It will not move very much lower because of the carrying charges.

Nice coffee chart ! Yes, that break was quite spectacular, but well that's coffee. Volatile stuff. Seems that it found support on the lower boundary of that channel it was moving in the past few months.

The soybean rally seems to have run out of steam, and I expect some gaps to be filled soon.

Best regards,