Core Insights - March soft red winter wheat futures are showing upward momentum, having reached a 2.5-month high, indicating a potential buying opportunity [1] - The bullish sentiment is supported by technical indicators, specifically the MACD, which shows a positive trend [1] - Recent news of China seeking to purchase U.S. wheat amid easing trade tensions contributes to a tightening global supply and demand balance for wheat [2] Technical Analysis - A breakout above the resistance level of $5.57 1/4 in March SRW wheat futures would signal a buying opportunity, with a target price of $6.20 or higher [3] - Technical support is identified at $5.30, where protective sell stops can be placed [3]