Wheat markets found some reason to bounce this week but still failed to move beyond the first resistance.
Winter wheat prices buckled this week, breaking below key trading range support levels.
Trading range lows were tested early in the week for the winter wheat markets while spring wheat moved sideways.
As long as corn is under pressure, wheat will get pulled lower as well.
Most traders are just holding their breath and hoping to get through next week without too much carnage.
World wheat buying has been strong.
The savior for the wheat market may be protein levels.
The Chicago wheat market has staged a solid rally since the first of October, while Kansas City and Minneapolis only joined the run last week.
Wheat markets traded in a narrow range this week after testing key resistance levels on Monday.
Wheat markets spent much of the week grinding higher, pulled along by Minneapolis in a rare show of leadership.