Wheat is the most bullish commodity at this moment mnit has come out of multimonth consolidation. $5.65 is the level which must hold for upmove to continue towards $7.40 - $8.15 - $9.30. It has closed below 65 DeMa but volume is not that great . $6 is the level below which most of the buyers will exit. It can create such scenario to cut out loose hands.
Wheat bounced back from near the lower end of the channel in wave IV and wave V can head back to the top end of the channel near 670 as long as the trendline support holds.
CBOT