Wheat has the added factor of the Ukraine / Russia war disruptions, so an extra layer of complexity when compared to other grains and agro products.
But I have very little experience with commodities. For my model portfolio I briefly considered DBA, but went with MOO instead, and some of the equipment stocks like Deere. Buffett says to stick to one's core competency, and agro futures is a highly specialized area.
Chart-wise, WEAT has bounced, but longer term the it might be vulnerable to eventually return to test the 2019-20 lows. Just a guess though, only based on the overall chart..
With agro futures, the film 'Trading Places' comes to mind, where they get the forecast report for the orange juice market before it becomes public. Without some info like that, I probably wouldn't venture into the area. But you certainly nailed the bottom and called the recent bounce, so maybe you have 'the knack' :o) Still, better to just use 'play money'.
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