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Don't look now, but wheat has launched a new long-term bull market - it's first in over 10 years. In this report, we'll examine the technical structure of the wheat bull market as well as its fundamental underpinnings. I'll also make the case that the relative absence of volatility in wheat's extended rally since last fall is a sign that informed interests have control of the market, which, in turn, will ensure the bull's longevity.
For the first time since 2018, wheat prices have established a sustained upward trend. Not only have wheat prices climbed