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Commodity Daily News
Wheat Prices Underperform
Friday, 2 Dec 2011
Wheat prices have begun to recover from their November lows but the commodity continues to underperform. In light of the strong equity gains on Wednesday this could be considered bearish price action as we would expect wheat prices to rise much further as market sentiment improves. Currently wheat prices are locked in a long term downtrend with support at the November low of $571 and resistance at the November 1st low of $611.
