The Day Ahead: PM Edition 2023-01-30

Now T-2 till the FOMC statement

Wheat Futures

I had promised an update on wheat by request so let us start with that. From the weekly chart posted last night, we saw that there is some evidence pointing to a possible completed pattern at the low last week. Here on the daily chart, we can see that low was made on positive divergence in the CCI and at a cycle inflection point. Dropping d…