CRM AgriCommodities Market Review – 12th October 2018
After filling a technical chart gap between £179.70 and £180/T, the Nov-18 LIFFE feed wheat contract retreaded toward its key 50-day moving average technical support of ~£177/T, awaiting the USDA October WASDE whilst the Sterling was seen recovering. ‘’Trees don’t grow to the sky’’ as they say and any period of strong gains are naturally attractive to sellers and subsequently price corrections are to be expected.