Wheat May held support at 637/636 but pushed a lot higher than expected spiking above 666 highs. We quickly pulled back and we stick with the view that the 6 week rally has ended at this stage. We look for profit taking and a drift lower to 649/648, perhaps as far as good support at 640/638 today.
We meet strong resistance again at 663/666 and it is only a close above this area that opens the door to further gains in to the end of the week. We should then target 675/676 and 680/681.