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Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Tue Nov 12, 2013 08:08 AM CST

Anyone who has watched the Chicago wheat market of late knows it has had a devilish time trying to build bullish momentum. As discussed in Tuesday's Early Word Grains on DTN, the market saw a rally from mid-September through mid-October as noncommercial traders moved from a net-short futures position to a net-long futures position. Then, just as quickly, the market fell again as this group reestablished a net-short futures position.

A look at the daily chart for the December Chicago wheat contract shows the struggles the market has faced of late. After posting a high of $7.11 1/4 on October ...

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