CBOT soybean, wheat, corn futures technical analysis provider FX678

The technical analysis of CBOT soybean, wheat, and corn contracts has provided some insight into the market trends for these commodities. The CBOT March wheat contract is likely to retest support at $5.9275 per bushel, with a possible fall opening the way to the $5.8150-$5.8575 range. Resistance is at $5.99, and a breakout could lead to the $6.0375-6.1050 range. The CBOT March corn contract may retest support at $4.5275 per bushel, with a potential drop to the $4.4850-$4.5025 range. Immediate resistance is at $4.55, and the market may reverse the downward trend or start a strong rebound near the lower target area. As for the CBOT March soybean contract, it may retest the support level of $12.3550 per bushel. Immediate resistance is at $12.4975, and a breach could lead to a rise in price to the $12.54-$12.6125 range. The contract broke through the key support level of $12.5325, opening the way to a downside target of $12.12. The potential for achieving this goal depends on the contract’s ability to break above key resistance levels. These technical analyses provide valuable insights for traders and investors in these markets.