CBOT wheat may rise more to $7.84-1/4

SINGAPORE: CBOT March wheat may rise more to $7.84-1/4 per bushel, driven by a wave c.

This is the third wave of a bounce from the Dec. 6 low of $7.23-1/2.

It has travelled far above its 61.8% projection level of $7.61-1/2.

CBOT wheat may retest support at $7.40-3/4

Chances are it may extend to $7.84-1/2. A break below $7.61-1/2 could open the way towards $7.45-1/4 to $7.56 range.