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Wheat Rallies the Limit on Tuesday as USDA Releases Production Updates

Commodities & Raw MaterialsCommodity FuturesFutures & OptionsMarket Technicals & Flows

Wheat futures were in rally mode on Tuesday, with Chicago SRW hitting the 45-cent limit in July and deferred contracts up as little as 13.5 cents. KC HRW also surged, with futures moving from 27.25 cents higher to the limit before the article cut off. The move signals strong bullish momentum in the wheat complex.

Analysis

Wheat futures were in rally mode on Tuesday, with Chicago SRW hitting the 45-cent limit in July and deferred contracts up as little as 13.5 cents. KC HRW also surged, with futures moving from 27.25 cents higher to the limit before the article cut off. The move signals strong bullish momentum in the wheat complex.

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