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    Support levels tested: Where next for wheat prices & strategies?

    08 May 2025
    Old crop wheat is now trading at its lowest level since the start of the war in Ukraine. Investment funds are holding massive short positions, while consumers and farmers remain heavily long. Technically, the market has reached multi-year support levels. Both US and EU wheat are now competitive and even cheaper than Black Sea origins. This should offer some hope for a rebound or at least suggest limited downside potential. So, have we touched the lows?

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