05/03/2016 – Wheat

July wheat:

1. In yesterday’s (Monday, May 2) Williams edge live meeting it was noted that any confirmed breakout below $4.82 in July wheat would decline to $4.76/$75 (or lower) into Tuesday, May 3.

2. Subsequently, July wheat broke the $4.82 level and quickly declined to the $4.76/$75 downside target (today’s session low, $4.71, so far). This successfully completes the forecast/trade. Will message any further entry or indication in July wheat.

David Williams