UK Feed Wheat Futures Prices Reach New High Amid Volatility

The UK feed wheat futures prices continued to show support in the domestic grain market, gaining £3.50/t (1.8%) last week to close at £199.75/t for the Nov-26 contract.

This represents a new contract high on Wednesday, reaching £207.00/t, but it soon fell back down.

The Relative Strength Index (RSI) decreased from 76 on July 17th to 75 on July 24th, indicating that prices are in the overbought zone above 70.

However, further supportive market news could still push prices higher.