Sell order was activated on Friday at the asked for price, £64 in profit (64 points). Early in session tested over 750, but poor finish does not bode well for Monday (for the long side). Looking at the chart – break of trendline and on monthly, this month bar is largest in years – could even extend higher to 800-900 – but feel that in near term short side is a good bet, though will be guided by market action next week.
Two stories out yesterday, 1/ More land for corn and 2/ pressure to reduce subsidies.
