Currencies and grain prices
23 March 1998
Currencies and grain prices
Friday 20 March, 1998
New-crop Class 2 premium is £4-5/ tonne
FRIDAY marked a very quiet end to another bearish week, with the FOB market still at a discount to the domestic market. New-crop was still supported by a few consumer enquiries and a lack of farm selling .
The Intervention Board report a total of 1.022 million tonnes of barley being offered into intervention. With the possibility of a Green Rate revaluation in early May, the total offered could reach 1.2m tonnes by the end of April.
French Intervention offers now exceed a million tonnes, which includes 821,000 t of barley and 15,000 t of soft wheat.
Prices at Fridays
wheat futures close:
MONTH
Close
Change
MAR
73.35
-0.65
MAY
74.85
-0.65
JUL
76.90
-0.60
SEP
75.75
-0.50
NOV
77.75
-0.50
JAN
79.75
-0.50
Approximate commodity
values, £/ tonne, ex-farm:
March Class 1 milling 100
March feed wheat 70
March feed barley 66
Harvest feed wheat 70