Currencies and grain trading

  • Euro=£0.714

  • £1=DM2.738 / FFr9.17 / $1.655

  • FOB Rouen January wheat value: FFr 750.00 (£81.78)

  • Chicago March wheat at close: $2.79 (&#163:61.86)

THE introduction of the Euro has seen Sterling fall from DM2.80 last week to DM2.738 yesterday. Under normal circumstances, UK wheat prices should have risen by £2.10, but have only managed a 60p rise.

The French and Moroccan governments are reported to have reached agreement on the supply of 500,000t of soft wheat from France for 1999 under COFACE-backed credit. At this stage it is uncertain as to whether the agreement will be ratified before the forthcoming tender for 60,000t of wheat on 6 January.

Prices at Mondays
wheat futures close:

MONTH Close Change
JAN 77.60 + 0.70
MAR 78.85 + 0.55
MAY 80.85 + 0.60
JUL 82.80 + 0.55
SEP 80.60 + 0.25
NOV 82.35 + 0.35

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

    January Class 1 milling wheat93-96
    January Class 2 milling wheat81-87
    January Soissons92-95
    January feed wheat73-76
    January feed barley75-78
    January OSR155-157
    Harvest feed wheat74-76
    September feed wheat76-78

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


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