From TradingView · · 40s
CBOT Wheat Pullback Holds Support
Wheat futures hold support at 711 after pullback, next leg higher in focus.
In brief
Wheat futures hold support at 711 after pullback, next leg higher in focus. CBOT wheat futures hold support at 711 following pullback, with next leg higher targeting 792-795. Originally reported by TradingView.
Wheat Pullback
Wheat futures recently pulled back to 711 after failing at 792, the Fibonacci extension.
Support Holds
The pullback retraced to 711, the July 2026 high, now acting as support.
Next Leg Higher
Wheat looks well placed for another leg higher with upside targets at 792-795 and 825.
Long-Term Target
Long-term target is 928, the 50% retracement near 2011 and 2012 highs.
Cyclical Market
Wheat is a cyclical market with structural bottom potential for further upside.
The takeaway
CBOT wheat futures hold support at 711 following pullback, with next leg higher targeting 792-795.
