May soft red winter wheat (ZWK26) futures may be a buying opportunity as prices trend higher on the daily chart. The moving average convergence divergence (MACD) indicator is bullish, with the blue line above the red trigger line. Concerns over potential winterkill damage and supply disruptions are supporting prices.

If May SRW wheat futures surpass resistance at $5.52 3/4, it could lead to a buying opportunity with an upside price target of $6.05. Technical support is at $5.30, where a protective sell stop can be placed. The CFTC warns futures trading is volatile and risky, advising caution and thorough risk assessment.

Read more at Yahoo Finance: How Much Higher Can Wheat Prices Trend Here?