Gold Breaks $3,900, Silver Hits a 2026 Low and WTI Eyes $105 as OPEC+, Midterms and NFP Will Decide the Week | Technical Analysis – Commodity Report | 31 Oct 2026
Commodities This Week | 2–6 November 2026
Gold Breaks $3,900, Silver Hits a 2026 Low and WTI Eyes $105 as OPEC+, Midterms and NFP Will Decide the Week
- Weekly bias
- Metals weak, oil firm
- Fed December hike odds near 70–80%; Hormuz keeps WTI above $100
- Expected volatility
- High
- OPEC+ Sunday, US midterms Tuesday and payrolls 13:30 GMT Friday
- Key event
- US payrolls
- Friday 6 Nov, 13:30 GMT
- Key pivot level
- 3,869
- Gold long-term average; a weekly close below it opens $3,800
Market Overview
Commodities enter 2–6 November pulling in opposite directions, and three events will decide which side wins. Metals are in full retreat: gold lost 3.01% last week to 3,875.19, its lowest level in more than a year, and silver collapsed 8.77% to a 2026 low of 49.11. A Fed that held at 3.75–4.00% with two dissents in favour of a hike, followed by strong Q3 GDP and firm inflation, has put December hike odds near 70–80%, and bullion is being sold for it.
Energy is the counterweight. WTI settled at 104.12 on Friday after a 15.2% gain in October, and Brent’s January contract settled at 113.43, as a tanker attack in the Strait of Hormuz put the war premium back into crude. Natural gas is moving the other way: December futures settled at 2.898 as mild weather and above-average storage cap every rally, and wheat has now fallen nine weeks in a row to 615.1. Copper is the quiet outlier, holding its rising channel at 6.584.
The catalysts are clear. OPEC+ meets on Sunday 1 November, US voters go to the polls on Tuesday 3 November, and payrolls follow on Friday 6 November at 13:30 GMT, with gas storage on Thursday at 15:30 GMT in between. US clocks go back on Sunday, so New York releases will land one hour later in GMT terms. We favour setups where trend and catalyst agree: short gold and natural gas, long crude on dips, and a cautious approach to oversold silver.
Key highlights
- Gold: Closed on the 3,868.99 average after breaking $4,000; $3,800 is the next level.
- Silver: Down about 14% since 19 October; RSI 32.57 warns of a bounce.
- Oil: WTI settled at 104.12 and Brent January at 113.43; OPEC+ is expected to hold December targets.
- Natural gas: Storage near 1.4% above average and mild forecasts cap rallies under 2.953.
- Copper: Holding the 6.549 average; LME three-month near $14,320 a tonne.
- Wheat: Ninth weekly loss; China buying is the main offset.
Market Snapshot: Weekly Close, 30 October 2026
Gold Gold Spot
3,875.19
-120.19-3.01% week
Range 3,870.26–4,083.41
3,800.004,212.36
Sell near 3,990.00Silver Silver Spot
49.11
-4.72-8.77% week
Range 48.87–54.63
45.0054.63
Sell near 52.00Copper Copper (US$ per lb)
6.584
+0.017+0.26% week
Range 6.522–6.796
6.1437.000
Buy near 6.550Crude Oil US Crude Oil (US$ per barrel)
102.94
-0.51-0.49% week
Range 99.44–104.99
87.09117.00
Buy near 100.50Natural Gas US Natural Gas (US$ per MMBtu)
2.898
+0.258+9.77% week
Range 2.497–3.092
2.4003.249
Sell near 2.950Wheat Wheat CFD (US cents per bushel)
615.1
-20.4-3.21% week
Range 604.7–638.3
580.9673.6
Sell near 638.0- Gold futures (Dec)
- 3,884.90
- Investing.com settlement, -3.63% on Friday
- Gold-silver ratio
- ~79
- Silver underperforming gold
- WTI / Brent (Jan)
- 104.12 / 113.43
- Settlements on Friday; Brent December expired at 117.64
- CBOT wheat (Dec)
- 603.50
- March at 617.00; CFD tracks the later contract
Trade Setups for the Week
| Instrument | Direction | Entry | Stop | Target 1 | Target 2 | Reward:risk | Conviction |
|---|---|---|---|---|---|---|---|
| Gold | Short | 3,990.00 | 4,065.00 | 3,870.00 | 3,800.00 | 1.6 / 2.5 | Medium |
| Silver | Short | 52.00 | 54.20 | 48.87 | 45.00 | 1.4 / 3.2 | Low |
| Copper | Long | 6.550 | 6.400 | 6.800 | 7.000 | 1.7 / 3.0 | Low |
| Crude Oil | Long | 100.50 | 96.80 | 105.00 | 112.00 | 1.2 / 3.1 | Medium |
| Natural Gas | Short | 2.950 | 3.100 | 2.700 | 2.500 | 1.7 / 3.0 | Medium |
| Wheat | Short | 638.0 | 662.0 | 605.0 | 581.0 | 1.4 / 2.4 | Medium |
Reward:risk is the distance from entry to target 1 and target 2, divided by the distance from entry to the stop. Gold, silver and WTI in US dollars; natural gas and copper in US dollars per unit; wheat in US cents per bushel. Levels are conditional technical references, not recommendations.
Key Market Drivers
Payrolls will decide whether the Fed hikes in December
The Fed held with Cook and Hammack dissenting for a hike and described growth as strong after Q3 GDP of 3.4%. Consensus for October payrolls is roughly +55k to +63k with unemployment at 4.2%. A beat would deepen pressure on gold, silver and copper; a miss would give oversold metals room to rebound.
Key events: Monday 2 November, ISM manufacturing at 15:00 GMT; Wednesday 4 November, ADP at 13:15 GMT; Friday 6 November, payrolls at 13:30 GMT.
Hormuz and OPEC+ will steer crude
A tanker hit by explosives and Iranian mine claims put the risk premium back, while a reported US outreach to Iran shows how quickly it can fade. Seven OPEC+ members are expected to keep December targets unchanged on Sunday, with output still far below quota.
Key events: Sunday 1 November, OPEC+ meeting; Wednesday 4 November, EIA crude stocks at 15:30 GMT; Friday 6 November, Baker Hughes rig count at 18:00 GMT.
Mild weather leaves natural gas on the defensive
Warm November forecasts, rising output and an 80 Bcf injection for the week to 23 October keep storage above average. LNG exports provide the floor, but a record-low March–April spread signals little winter worry.
Key events: Thursday 5 November, EIA storage at 15:30 GMT, forecast near 74 Bcf.
Russian supply and Chinese demand tug wheat
Resumed Azov shipments and a weak corn market extended wheat’s losing streak, while US export sales and Chinese enquiries offer support. Funds remain net short, so squeezes are possible.
Key events: Thursday 5 November, export sales at 13:30 GMT; Friday 6 November, CFTC data at 20:30 GMT.
Gold at 3,869 and WTI at 105 mark the two lines most exposed to a payrolls and Hormuz surprise. A weekly close beyond either would change the picture for the week ahead.
NFP Scenario Analysis
Consensus is for payrolls of about +55k to +63k, unemployment at 4.2% and earnings up 0.3% on the month. The report is due on Friday 6 November at 13:30 GMT.
Strong payrolls: a beat would seal December and pressure metals
Higher yield expectations lift the dollar and weigh on non-yielding assets.
- Gold3,869, then 3,800
- Silver48.87, then 45.00
- Copper6.52, then 6.14
- Crude oilHormuz-led: 99.44–104.99 range
- Natural gas2.497, weather-led
- Wheat604.7, then 580.9
Weak payrolls: a miss would reopen the December debate
Lower yield expectations give oversold metals a rebound.
- Gold4,000, then 4,212
- Silver53.18, then 54.63
- Copper6.80, then 7.00
- Crude oil104.99, then 112
- Natural gas2.953, then 3.249
- Wheat638, then 673.6
XAU/USD | Gold Spot
Gold Outlook: Support at the Long-Term Average Is All That Stands Before $3,800
3,875.19 -120.19 (-3.01%) week Range 3,870.26–4,083.41
Outlook: Bias is lower while $4,000 caps rallies. Gold lost 3.01% on the week to its weakest level in more than a year, closing on the 3,868.99 long-term average after breaking below $4,000 on hot US data and December Fed hike bets. Oil near $100 is feeding inflation fears rather than safe-haven demand. A weekly close under 3,869 would open $3,800; a bounce toward 3,990–4,030 is where sellers should step in.
Key levels
- Support 2
- 3,800.00
- Support 1
- 3,868.99
- Resistance 1
- 4,000.00
- Resistance 2
- 4,212.36
Weekly chart structure
- Structure: a falling channel from the January record, with price now at the lower half after a failed July rebound.
- Averages: 4,464.41 and 4,212.36 sit far above price; 3,868.99 is the last major average underneath.
- Candle: bearish, opened 3,992.60, ranged 3,870.26–4,083.41 and closed 3.01% lower near the low.
- Momentum: RSI 34.70 is below its 46.43 signal line and nearing oversold.
Key technical levels
4,000 is the first resistance and the level gold held until Thursday; a weekly close back above it would ease pressure. 3,869–3,870 is first support; below it, 3,800 is the next round-number magnet and the channel floor lies well lower.
Fundamental drivers
Fed and oil
The Fed held at 3.75–4.00% in a 10–2 vote, with Cook and Hammack wanting a hike. Strong Q3 GDP, firm core inflation and oil above $100 keep a December hike in play (Polymarket near 70%, FXStreet near 80%). Real-yield pressure outweighs haven buying.
Positioning and forecasts
Kitco’s weekly survey showed Wall Street bulls leaving after the break under $3,900, with Main Street still narrowly bullish. A Reuters survey showed analysts cutting 2026 forecasts again. Gold futures (Dec) settled near 3,885 on Friday.
Gold trade setup
ShortMedium conviction- Entry
- 3,990.00
- Stop loss
- 4,065.00
- Target 1
- 3,870.00
- Target 2
- 3,800.00
Risk $75.00. Reward:risk 1.6 to target 1, 2.5 to target 2.
Rationale: Rallies into the 4,000 handle meet broken support and a hawkish Fed; the stop sits above Thursday’s 4,008 close and the week’s upper range.
Invalidation: A weekly close above 4,065 or a weak payroll print that cuts December hike odds sharply.
XAG/USD | Silver Spot
Silver Outlook: A 2026 Low Below $50 as the Channel Floor and 53.18 Average Give Way
49.11 -4.72 (-8.77%) week Range 48.87–54.63
Outlook: Bias is lower, but the move is stretched. Silver fell 8.77% in the week, closing at a 2026 low under $50 and below the 53.18 average and the channel floor. The gold-silver ratio is near 79. With RSI at 32.57, a relief bounce toward 51–53 is likely before sellers return, so patience on entries matters.
Key levels
- Support 2
- 45.00
- Support 1
- 48.87
- Resistance 1
- 53.18
- Resistance 2
- 54.63
Weekly chart structure
- Structure: a falling channel from the January spike; the weekly close is below the lower line.
- Averages: 53.18, 61.16 and 69.75 are stacked above price.
- Candle: long bearish body, opened 54.159, ranged 48.869–54.634 and closed 8.77% lower.
- Momentum: RSI 32.57 is under its 44.76 signal line and close to oversold.
Key technical levels
48.87 (the week’s low) is first support, then 45.00 near the November 2025 low zone. Resistance starts at 53.18 and the 54.63 week high; a weekly close above 54.63 would invalidate the breakdown.
Fundamental drivers
Metals liquidation
Silver fell from about 54.20 on Tuesday to under 49 on Friday as liquidation hit precious metals together with a tech-led equity selloff. It is down roughly 14% since 19 October.
Fed and the dollar
Hot US data and December hike odds lift real yields. A weak payroll print is the main catalyst for a squeeze, so size small.
Silver trade setup
ShortLow conviction- Entry
- 52.00
- Stop loss
- 54.20
- Target 1
- 48.87
- Target 2
- 45.00
Risk $2.20. Reward:risk 1.4 to target 1, 3.2 to target 2.
Rationale: A bounce into the broken 53.18 average offers a lower-risk sell; the stop sits above the 54.63 week high.
Invalidation: A weekly close above 54.63. Oversold RSI means squeezes can be sharp, hence low conviction.
HG/USD | Copper (US$ per lb)
Copper Outlook: Holding the 6.549 Average Inside a Rising Channel as Oil and Tech Weigh
6.584 +0.017 (+0.26%) week Range 6.522–6.796
Outlook: Bias is mildly higher while 6.52 holds. Copper finished the week little changed at 6.584 after spiking to 6.796 and reversing, closing on the 6.549 average and the rising channel floor. Tight Chinese inventories support, but rising oil, a tech selloff and doubts over AI-driven demand cap it. COMEX futures fell about 2% on Friday to near 6.45, so confirm the quote on your platform.
Key levels
- Support 2
- 6.143
- Support 1
- 6.522
- Resistance 1
- 6.796
- Resistance 2
- 7.000
Weekly chart structure
- Structure: a rising channel since early 2026; price is testing its lower boundary after a failed push toward 7.00.
- Averages: 6.549 is at price; 6.143 and 5.443 provide deeper support.
- Candle: a long upper wick (high 6.796) shows rejection; the week closed +0.26%.
- Momentum: RSI 55.34 is below its 62.50 signal line, a loss of upside momentum.
Key technical levels
6.52 (week low) and the channel floor are first support; below them 6.14 is the next average. 6.80 is the week’s high and first resistance, then 7.00 and the record near 6.89–6.95.
Fundamental drivers
Supply and demand
LME three-month copper was near $14,320 a tonne on Friday. Chinese inventories are low and the Yangshan premium is near a decade high, but Reuters-polled analysts see a 2026 surplus of about 125,000 tonnes.
Tariffs and stocks
COMEX stocks near 718,000 tonnes reflect metal moved ahead of proposed US tariffs. Copper miners fell sharply on Friday with tech stocks.
Copper trade setup
LongLow conviction- Entry
- 6.550
- Stop loss
- 6.400
- Target 1
- 6.800
- Target 2
- 7.000
Risk $0.150. Reward:risk 1.7 to target 1, 3.0 to target 2.
Rationale: The channel floor and 6.549 average give a defined risk point; a payroll miss would lift risk appetite.
Invalidation: A weekly close below 6.40 breaks the channel. Hot payrolls and higher oil are the main risks.
WTI | US Crude Oil (US$ per barrel)
Crude Oil Outlook: WTI Presses the Falling Trendline Near $105 as Hormuz Risk Returns
102.94 -0.51 (-0.49%) week Range 99.44–104.99
Outlook: Bias is higher while 99.44 holds. WTI finished near 102.94 (CFD; NYMEX settled 104.12, +0.8% on the week and +15.2% in October) after a tanker was hit in the Strait of Hormuz. Price is squeezed between a rising trendline and a falling line from the January high near 120. A weekly close above 105 would target 110–117. Headline risk runs both ways, from Hormuz attacks to US-Iran talks.
Key levels
- Support 2
- 87.09
- Support 1
- 99.44
- Resistance 1
- 104.99
- Resistance 2
- 117.00
Weekly chart structure
- Structure: a triangle between the falling line from January and the rising line from the July low; apex is near.
- Averages: 87.09, 81.71 and 73.82 are well below and rising.
- Candle: opened 102.61, ranged 99.44–104.99 and closed -0.49% in the CFD feed, with a failed breakout wick.
- Momentum: RSI 60.76 is above its 55.07 signal line.
Key technical levels
104.99 and the falling trendline are resistance; above them 112 and the 117–120 January–March highs come into play. 99.44 is first support, then the rising trendline and the 87.09 average.
Fundamental drivers
Hormuz and the war
A tanker was hit by explosives in the Strait of Hormuz and Iran claimed mine strikes. Brent’s January contract settled at $113.43 after the December contract expired at $117.64. The Wall Street Journal reported a US outreach to Iran to restart talks, and Polymarket put a Hormuz deal by 31 December near 40%.
OPEC+ and demand
Seven core OPEC+ members are expected to hold December targets at their online meeting on Sunday 1 November. Output remains far below quota. The IEA expects 2026 demand to fall, so a diplomatic breakthrough is the main downside risk.
Crude Oil trade setup
LongMedium conviction- Entry
- 100.50
- Stop loss
- 96.80
- Target 1
- 105.00
- Target 2
- 112.00
Risk $3.70. Reward:risk 1.2 to target 1, 3.1 to target 2.
Rationale: Buying the week’s low area keeps risk to a defined stop under the rising trendline, with room to the 105 and 112 levels if Hormuz risk persists.
Invalidation: A daily close below 96.80, or a US-Iran agreement that reopens flows.
NG | US Natural Gas (US$ per MMBtu)
Natural Gas Outlook: A Rebound Stalls Under the 2.953 Average in a Falling Channel
2.898 +0.258 (+9.77%) week Range 2.497–3.092
Outlook: Bias is lower while 2.953 caps. December futures settled at 2.898 on Friday, down 5.4 cents on the day, after a weekly range of 2.497–3.092. The rebound failed beneath the 2.953 and 3.249 averages, and mild November forecasts, rising output and storage above average keep sellers in control. A colder forecast is the main risk.
Key levels
- Support 2
- 2.400
- Support 1
- 2.497
- Resistance 1
- 2.953
- Resistance 2
- 3.249
Weekly chart structure
- Structure: a falling channel from the January spike toward the 1.70 region; price remains in its upper half.
- Averages: 2.953, 3.249 and 3.379 stack above price.
- Candle: opened 2.540, ranged 2.497–3.092 and closed +9.77%, but off the high.
- Momentum: RSI 47.84 is just above its 47.11 signal line, a neutral reading.
Key technical levels
2.953 is first resistance and 3.249 is the second; a weekly close above 3.25 would break the channel. 2.497 (week low) and 2.40 are the support levels.
Fundamental drivers
Weather and storage
The EIA reported an 80 Bcf injection for the week to 23 October, above expectations. Analysts expect about 74 Bcf for the week to 30 October on Thursday, which would lift stocks to about 3,798 Bcf, 1.4% above the five-year average. The March–April spread is at a record low, a sign of limited winter worry.
LNG support
Record LNG feedgas and a global gas squeeze from the Iran war give a floor, and producers are curtailing output at soft prices.
Natural Gas trade setup
ShortMedium conviction- Entry
- 2.950
- Stop loss
- 3.100
- Target 1
- 2.700
- Target 2
- 2.500
Risk $0.150. Reward:risk 1.7 to target 1, 3.0 to target 2.
Rationale: The 2.95 area combines the yellow average and the prior rejection; mild weather and above-average storage favour fading rallies.
Invalidation: A daily close above 3.10, or a forecast shift to a colder November.
Wheat | Wheat CFD (US cents per bushel)
Wheat Outlook: Price Breaks the Rising Channel and Extends a Nine-Week Losing Streak
615.1 -20.4 (-3.21%) week Range 604.7–638.3
Outlook: Bias is lower while 638 caps rallies. The wheat CFD fell 3.21% to 615.1, closing on the 615.6 average after breaking the lower line of its 2026 channel. CBOT wheat posted a ninth straight weekly loss, extending the longest losing run since 1997, and sits nearly 25% below its September high. China interest and short covering could trigger bounces, but the trend is down.
Key levels
- Support 2
- 580.9
- Support 1
- 604.7
- Resistance 1
- 638.3
- Resistance 2
- 673.6
Weekly chart structure
- Structure: a rising channel from late 2025 broke on a weekly close, turning the old floor into resistance near 640–645.
- Averages: 673.6 is above; 615.6 is at price; 580.9 is the next support.
- Candle: opened 635.5, ranged 604.7–638.3 and closed 3.21% lower.
- Momentum: RSI 42.39 is under its 57.76 signal line.
Key technical levels
604.7 (week low) then 580.9 are support. 638.3 (week high), 645 (old channel floor) and 673.6 are resistance; a weekly close above 673.6 would end the downtrend.
Fundamental drivers
Russian exports
Russian authorities allowed grain ships to leave Azov ports for the first time since July, raising supply expectations, while Black Sea attack risk remains. Falling corn adds pressure.
Demand offsets
South Korea bought about 50,000 tonnes of US wheat and Chinese buyers have sought US soft red winter offers. CBOT December settled at 603.50 and March at 617.00; the CFD tracks the later contract.
Wheat trade setup
ShortMedium conviction- Entry
- 638.0
- Stop loss
- 662.0
- Target 1
- 605.0
- Target 2
- 581.0
Risk 24.0 cents. Reward:risk 1.4 to target 1, 2.4 to target 2.
Rationale: A retest of the broken channel floor near 638–645 offers a defined risk point while the weekly trend stays down.
Invalidation: A weekly close above 662–673. A large Chinese purchase is the main risk.
Economic Calendar: 2–6 November 2026
| Date | Event | Market | Impact | Context |
|---|---|---|---|---|
| Time TBC | OPEC+ seven-member online meeting on December output targets; hold expected | Crude oil | High | Quotas unchanged is the base case; focus shifts to 2027 baselines. Full group meets 29 Nov |
| 15:00 GMT | US ISM Manufacturing PMI (October), forecast 54.7 | Gold, copper | Medium | Prices-paid and employment details feed December Fed pricing |
| All day | US midterm elections | All commodities | High | Control of Congress; tariff and fiscal read-across for copper and the dollar |
| 15:00 GMT | US JOLTS job openings (September), forecast 7.11 million | Gold, silver | Medium | Labour demand ahead of payrolls |
| 13:15 GMT | US ADP employment (October) | Gold, silver | Medium | Early read on Friday’s payrolls |
| 15:00 GMT | US ISM Services PMI (October), forecast 54.9 | Gold, copper | Medium | Services prices feed rate expectations |
| 15:30 GMT | EIA weekly crude oil inventories | Crude oil | Medium | US clocks go back on 1 Nov, so EIA lands an hour later in GMT |
| 12:00 GMT | BoE rate decision, hike to 4.00% expected | Gold, silver | Medium | Sterling and dollar read-across |
| 13:30 GMT | US weekly export sales | Wheat | Medium | Follows South Korean and Chinese interest in US wheat |
| 15:30 GMT | EIA weekly natural gas storage; injection forecast near 74 Bcf | Natural gas | High | Would lift stocks to about 3,798 Bcf, 1.4% above the five-year average |
| 13:30 GMT | US nonfarm payrolls (October), forecast +55k to +63k; unemployment 4.2% | Gold, silver, copper, oil | High | Decides December Fed hike odds, currently near 70–80% |
| 15:00 GMT | University of Michigan sentiment, preliminary November, forecast 47.8 | Gold | Low | Inflation expectations component |
| 18:00 GMT | Baker Hughes US oil rig count | Crude oil | Low | Rose by two to 462 last week |
| 20:30 GMT | CFTC Commitments of Traders | Wheat, gold, oil | Low | Funds’ net short in wheat is a squeeze risk |
All times are GMT. US clocks go back on Sunday 1 November, so New York releases land one hour later in GMT terms.
Conclusion
Fed hike odds, Hormuz and the weather will set the week. Payrolls will decide whether metals extend their slide, OPEC+ and Hormuz headlines will decide whether WTI breaks 105, and the weather will decide whether natural gas stays capped.
On conviction, gold, WTI, natural gas and wheat rate medium, with silver and copper low: silver because it is oversold, copper because oil and tech weigh on a channel it still holds.
We treat every level as conditional, let the event windows pass before adding exposure and size positions so that a stop-out is affordable. Spreads can widen sharply around OPEC+ and payrolls.
| Instrument | Bias | Key level | Targets | Invalidation | Principal risk |
|---|---|---|---|---|---|
| Gold | Sell near 3,990.00 | 4,000.00 | 3,870.00 / 3,800.00 | Above 4,065.00 | Weak payrolls, short covering |
| Silver | Sell near 52.00 | 53.18 | 48.87 / 45.00 | Above 54.20 | Oversold squeeze |
| Copper | Buy near 6.550 | 6.522 | 6.800 / 7.000 | Below 6.400 | Hot payrolls, higher oil |
| Crude Oil | Buy near 100.50 | 99.44 | 105.00 / 112.00 | Below 96.80 | US-Iran deal |
| Natural Gas | Sell near 2.950 | 2.953 | 2.700 / 2.500 | Above 3.100 | Colder forecast |
| Wheat | Sell near 638.0 | 638.3 | 605.0 / 581.0 | Above 662.0 | China buying, short covering |
Trade gold, silver, oil and other commodity CFDs with Capital Street FX.
Frequently Asked Questions
Why did gold and silver fall so sharply last week?
The Fed held but two members wanted a hike, strong GDP and inflation data followed, and oil above $100 fed inflation worries. Higher real yields and forced selling pushed gold below $3,900 and silver below $50.
When does OPEC+ meet and what is expected?
Seven core members meet online on Sunday 1 November. Reuters sources expect December targets to stay unchanged, with attention on 2027 quotas.
What matters for natural gas this week?
The EIA storage report on Thursday at 15:30 GMT and the weather outlook. Mild forecasts and above-average storage favour sellers, while colder shifts would lift prices.
Why is wheat falling despite Chinese interest?
Russian grain shipments restarting from Azov ports, weak corn and large global supply have outweighed export demand, giving CBOT wheat nine straight weekly losses.
How can traders manage risk in an event-heavy week?
Reduce size before OPEC+, the midterms and payrolls, avoid entries in the minutes around releases and allow for wider spreads. Use defined stops rather than adding exposure after an initial spike.
