Wheat has been in rally mode for all most two weeks, coming off 2015 lows of 4.92. Price rallied into what we think is a bear flag (not a text book set-up) and is now consolidating within this pattern. We are starting to sell wheat with anticipation that price fails and sells off to contract lows. Stop placement at this time is above 5.34. We are under trading this set-up managing our risk below 1% total risk. Volume has been increasing as the “flag” was being formed, which is not the type of volume trend you want to see. But we remain bearish on the technicals and will play this swing lower. We are currently short with our stops above 534.50.