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Canada Markets Blog
Cliff Jamieson Canadian Grains Analyst
Thu Apr 10, 2014 04:58 PM CDT

Since reaching the $6.25 per bushel low in January, December Minneapolis red spring wheat gained $1.45/bu to reach a high of $7.70/bu in late March, although five tests of this price level prevented a further move higher.

Prices have since traded sideways in a range between the March 31 high of $7.55/bu and the April 4 low of $7.27 3/4/bu, while further bound by the support of the contract's 200-day moving average, which is seen on the chart as the gently downward-sloping red line.

Thursday's trade saw a 12 cent move lower in the December, breaking below the sideways range ...

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