Currencies and grain trading

20 April 1998

Currencies and grain trading

Monday, 20 April, 1998

  • £1=DM3.044 / FFr10.200 / $1.683

  • French FOB spot wheat value: FFr 745.00 (£ 73.03)

  • Chicago May wheat at close: $3.03 (£ 66.03)


THE UK market followed the recent trend of profit-taking on the old crop, even as currency improved from DM3.026 to DM3.055. New-crop still remains neutral as 30% of the crop is made up of Groups 1 and 2 and should pass for Intervention, giving a bottom in the November market of about £72/ t – todays levels.

Chinas planted acreage is expected to rise by 1.14% to 155 million hectares in 1998. Acreage of grain is expected to rise by 0.44% to 118 million hectares, with wheat falling by 100,000ha and corn rising by 510,000ha. Oil-bearing seed crops are expected to reach 13.038 million hectares, up 5.25%.

South Korea bought 102,000 tonnes of East European feed wheat last week at around $93 C+F for May/June.

Prices at Fridays
wheat futures close:

MONTH Close Change
MAY 74.75 + 1.05
JULY 76.75 + 1.05
SEP 74.75 + 0.25
NOV 76.75 + 0.25
JAN 78.75 + 0.25
MAR 80.75 + 0.25

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

    April Class 1 milling104/108
    April feed wheat67/69
    April feed barley70/72
    Harvest feed wheat67/69

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


    Farmers Weekly Awards Show

    Join us for a week-long extravaganza to celebrate the farming heroes and achievements of 2020 and announce the winners of the Farmers Weekly Awards. Countryfile presenter Adam Henson will host five nights of entertainment in 20-minute programmes filmed all over the country. He'll be joined by a host of farming celebrities and feature a special appearance by HRH Prince Charles.
    Find out more
    See more