Currencies and grain prices

23 March 1998

Currencies and grain prices

Friday 20 March, 1998

  • £1=DM3.053 / FFr10.231 / $1.668
  • French FOB spot wheat value: FFr 793.75 (£ 77.58)
  • Chicago December wheat at close: $3.28 (£ 70.79)

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 milling100
    March feed wheat70
    March feed barley66
    Harvest feed wheat70

    New-crop Class 2 premium is £4-5/ tonne

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

  • Read and respond to grain-business issues in the BCE Forum on FWiClick here

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