Tech Guy Wheat Comments 2/28/26

May SRW Wheat is testing price levels from 8 months to 1 year ago. Wheat has rallied almost a dollar since the early January low. Friday's high of 597.0 might hold as resistance for the time being.

609.0 and 617.0 are the next highs to the left as you will see on the daily chart. Wheat has completed 9 Elliot waves, so far. A normal impulse wave has 5 or 9 waves. This is evidence that indicates a possible swing high is in place.

Hard wheat is minus 8 cents to soft.

Ford cont:

Henry searched the world for the best agronomists to develop soybean varieties and the best growing procedures. He recruited the best oil seed scientists to develop new uses for soybeans. By 1932, Henry Ford was the world’s “go to guy” for anyone seeking information about growing and using soybeans! He perfected the manufacture of making plastic from soybean meal and used dozens of soybean plastic parts in his cars. It was estimated that each soybean plastic part used required 7,200 acres of soybeans. Read more at: https://www.soyinfocenter.com/HSS/henry_ford_and_employees.php

For pertinent news and fundamental grain market information, sign-up for a 30 day, no cost, no obligation, no phone call subscription to Wright on the Market news sent to your email every day before you get out of bed. Click on "subscribe" at: https://www.wrightonthemarket.com/