Wheat March above 492 re-targets quite strong resistance at 499/500. Exit longs and try shorts from here up to 503. However if this does not hold a rally today, look for the next target and resistance at 507/508.
Failure to hold first support at 491/492 re-targets 487/846. If we continue lower look for a test of support at 481/482 which could 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.