Currencies and grain trading


24 April 1998


Currencies and grain trading


Friday, 24 April, 1998

  • £1=DM2.995 / FFr10.042 / $1.662

  • French FOB spot wheat value: FFr 745.00 (£ 74.18)

  • Chicago May wheat at close: $3.04 (£ 67.12)



Futures:


MUCH to the surprise of the trade, Brussels granted the largest volume of wheat restitutions since March 97 – 444,000 t at Ecu21.97. However, there are theories that this volume was to cover an Algerian purchase of 225,000 t, expected to come from Germany; and that the Commission has taken into account forthcoming aggressive sales from Turkey. The award prices French wheat at around $113 (£70).





Prices at Thursdays
wheat futures close:


MONTH Close Change
MAY 76.50 + 0.75
JULY 78.50 + 0.65
SEP 76.00 + 0.40
NOV 78.00 + 0.40
JAN 80.00 + 0.40
MAR 82.00 + 0.40

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





    April Class 1 milling108/110
    April feed wheat69/70
    April feed barley70/72
    Harvest feed wheat68/70




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

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