Currencies and grain trading


03 April 1998


Currencies and grain trading


Thursday, 2 April, 1998

  • £1=DM3.083 / FFr10.330 / $1.665

  • French FOB spot wheat value: FFr 775.00 (£ 75.02)

  • Chicago May wheat at close: $3.14 (£ 68.54)



Futures:


MARGINALLY weaker Sterling seemed to prompt some consumer interest yesterday, perhaps from those nervous about further Sterling losses, or perhaps due to some profit-taking. Merchants sold domestic UK destinations and bought FOB in new-crop positions. Shippers seemed happy to sell new-crop into the rising market.


Export tenders:

  • Wheat: 44 offers were received for 518,000 tonnes with restitution levels between Ecu18.86 and Ecu25.99 per tonne (£13.12-£18.08). All were refused.
  • Barley: Two offers were received for 6,000 tonnes with restitution levels between Ecu48.00 and Ecu 59.50 per tonne (£33.40-£41.40). One offer was accepted for 1,000 tonnes.





    Prices at Thursdays
    wheat futures close:


    MONTH Close Change
    MAY 74.25 + 1.50
    JULY 76.25 + 1.50
    SEP 76.20 + 1.10
    NOV 78.20 + 1.10
    JAN 80.20 + 1.10
    MAR 82.20 + 1.10

      Approximate commodity
      values, £/ tonne, ex-farm:





      April Class 1 milling100/102
      April feed wheat66/68
      April feed barley68/70
      Harvest feed wheat67/69




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

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