KC Hard Red Winter Wheat Breaks Out Above 2-Year Base

Hard Red Winter Wheat futures on the Kansas City (KC) exchange have broken out above their two-year base level. This significant technical signal is being interpreted as a bullish indicator by market analysts.

The KC Hard Red Winter Wheat weekly nearby contract has formed a solid base over the past couple of years, with the old traders' adage 'The longer the base, the higher into space' holding true in this case.

Trent Klarenbach, publisher of the Klarenbach Grain Report, notes that this breakout could be the third time's the charm for wheat prices, suggesting a potential increase in value.