Elliot Wave & Wheat 3/15/26

Elliot wave impulses can be 5, 9, or even 13 waves or separate legs. It appears that the front month (May) of SWR Wheat is working on this 13th wave higher, and it could be rallying to test old highs from June 2024 close to $7.00.

Please study the SRW Wheat continuation daily chart below.

Brazil crops:

Brazil’s soybean production has doubled in the last 20 years, but its corn production has tripled. Twenty-five years ago, Brazil was a net importer of corn. During the 2023-24 marketing year, for the first time ever, the U.S. was not the world’s leading corn exporter; Brazil was. What made Brazil the world’s number 2 corn producer? Asian Leaf Rust.

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