Currencies and grain trading


21 April 1998


Currencies and grain trading


Tuesday, 21 April, 1998

  • £1=DM3.006 / FFr10.08 / $1.680

  • French FOB spot wheat value: FFr 745.00 (£ 73.90)

  • Chicago May wheat at close: $2.995 (£ 64.18)



Futures:


THE UK market reacted once again to Sterlings weakness, with old-crop taking the lead as short covering was the order of the day. New-crop took the back seat, with consumers happy about the level of cover already taken and seeing no reason to fuel any rally when a large crop is forecast.


Flour millers are becoming frustrated with the lack of class 1 and 2 offers, and have purchased German over the past few days.





Prices at Mondays
wheat futures close:


MONTH Close Change
MAY 75.30 + 0.55
JULY 77.30 + 0.55
SEP 75.40 + 0.65
NOV 77.40 + 0.65
JAN 79.40 + 0.65
MAR 81.40 + 0.65

    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

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