Currencies and grain trading

• £1=DM2.869 / FFr9.62 / $1.658
  
  
• FOB Rouen spot wheat value: FFr 765.00 (£ 79.52)
  
  
• Chicago September wheat at close: $2.46 (£ 54.45)

UK futures reacted to the weakness in Sterling yesterday. The market has now moved up £2.50 over the last 10 days, giving a value for November wheat of between £67 and £70/tonne ex-farm, depending on quality and location.

Bangladesh is to tender for 100,000t of soft wheat, 30 September.

ONIC of France is predicting a 50% rise in wheat exports this season, targeting 7.5m tonnes of exports outside EU v 5m last year. ONIC also predicts a rise in end-season stocks to 6.2m tonnes v 4.7m last year.