Wheat March strong resistance at 491/492 remains the main challenge for bulls this week of course. Shorts need stops above 494 to target quite strong resistance at 499/500. However, if this does not hold a rally, look for the next target and resistance at 507/508.
Failure to beat strong resistance at 491/492 re-targets 487/846. If we continue lower, look for first support at 481/482, which should hold the downside. A break lower, however, targets strong support at 477/476. Failure here today risks a slide to 472. Below here watch the 466/465 lows.