# Daily Market Wire 1 August 2022 - Grain Central

> An Elliott Wave analysis of hard red winter wheat futures says prices printed a decade-high in May 2022 at 1225 and expects a short-term pullback before a rally toward 1500. The piece also discusses the long-term price cycle since 2008.

- Date: 2022-07-31 · published 2022-07-31T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/40529-daily-market-wire-1-august-2022-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

This is technical chart commentary with no new supply or demand event, so it has little direct bearing on feed prices.

## Read by commodity

- KWHEAT: neutral

## Sources

- graincentral.com: https://www.graincentral.com/markets/daily-market-wire-1-august-2022/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.