The waving implied that the whole was an offering to God, whose presence was understood to be at the service. 1 Timothy 2:8.
Related Commentaries of Exodus 29:22
Exodus 29:22-24
22 Also thou shalt take of the ram the fat and the rump, and the fat that covereth the inwards, and the caul above the liver, and the two kidneys, and the fat that is upon them, and the right shoulder; for it is a ram of consecration:
23 And one loaf of bread, and one cake of oiled bread, and one wafer out of the basket of the unleavened bread that is before the LORD:
24 And thou shalt put all in the hands of Aaron, and in the hands of his sons; and shalt wavec them for a wave offering before the LORD.