6:57 PM · 8 November 2023

WHEAT fails to break above 600 area

WHEAT as well as other agricultural commodities launched today's trading higher, extending yesterday's upward move. While WHEAT took a hit following Monday's bearish USDA data, declines were recovered later on. The data showed 50% of the US winter wheat crop being in good-to-excellent condition, up 3% from the previous week. This is also the highest share of excellent crops for this time of the year since 2019. Harvest prospects are also improving in Australia and Argentina.

Taking a look at WHEAT chart at H1 interval, we can see that commodity has been trading higher throughout the day and jumped above the 580 resistance zone. Strong gains continued later on with price testing resistance zone ranging below 600 area and marked with recent local highs. However, bulls failed to push the price above it and a strong reversal occurred. WHEAT erased around half of earlier gains and is now trading 2.5% higher on the day and slightly above the aforementioned 580 price zone.

Source: xStation5

15 October 2026, 6:40 AM

🚨Morning Wrap: A weaker dollar, strong gold, and a tech sector in free fall—what’s driving the market❓

14 October 2026, 7:20 PM

Daily Summary: Rising inflation weighs on markets, semiconductors suffer most (14.10.2026)

14 October 2026, 5:44 PM

US Open: CPI reading weighs on American indices (14.10.2026)

14 October 2026, 12:50 PM

Market Wrap: ASML lifts tech sentiment, EU yields pull back

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits