Is the Wheat Futures Selloff Nearing the End of the Bearish Road?

The wheat market has been battered and bruised. As these markets typically do, they rise too fast and the rally might carry much further than fundamentals would suggest it needs to. The same is true for breaks, and one such break is that of the U.S. wheat futures markets. Chicago spot wheat futures have fallen for nine consecutive weeks despite some positive fundamental support factors. There are some reasons to believe that the extreme break may be close to having run its course.