16 July 1998
Currency and grain trading

Thursday, 16 July, 1998

  • £1=DM2.941 / FFr9.86/ $1.637
  • French FOB spot wheat value: FFr 770.0 (£ 78.09)
  • Chicago July wheat at close: $2.60 (£ 58.28)

With the weather delaying the harvest, UK futures finished marginally higher. Export credit guarantees for Pakistan have been reinstated by the US. They had been stopped over nuclear testing issues. Pakistan is now looking to purchase 300,000mts optional origin wheat. Tunisia bought100,000mts French/German wheat yesterday at between £65 and £75 CIF dependant on quality. Chicago set new seven year lows yesterday with the weight of harvest pressure and good growing conditions for corn.
Prices at yesterdays
wheat futures close:

MONTH Close Change
SEP 71.90 +0.25
NOV 74.15 +0.15
JAN 76.00 +0.15
MAR 78.00 +0.30
MAY 79.90 +0.30
    Approximate commodity
    values, £/ tonne, ex-farm:
    July Class 1 milling112-115
    July feed wheat70-72
    July biscuit wheat75-80
    Harvest feed wheat64-66

  • Information provided by BDR Agriculture Ltd, Harvest House, 64 North Street, Bourne, Lincolnshire PE10 9AJ – click here for further details