Currencies and grain trading

Wednesday 31 March, 1999

  • Euro1=£0.666

  • £1=DM2.935 / FFr9.935 / US$1.611 / Euro1.5117

  • FOB Rouen March wheat value: FFr715 (£72.53)

  • Chicago May wheat at close: $2.94 (£72.53)

The UK market started the day marginally steadier but as sterling fell

buyers pushed both the physical and futures markets up by almost £1. The spot market is also pushed along by a lack of farmer

selling and the theory that merchant grain pools have increased and

therefore wheat is in stronger hands?

Wheat futures – closing prices:

MONTH Close Change
MAY 74.75 +0.85
JULY 76.50 +0.75
SEP 75.50 +0.75
NOV 77.40 +0.90
JAN 79.25 +0.85
MAR 81.25 +0.85

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

    March Class 1 milling wheat82-86
    March Class 2 milling wheat74-76
    March Soissons80-84
    March feed wheat70-71
    March feed barley70-72
    April OSR125
    Harvest OSR118
    Harvest feed wheat67-69
    November feed wheat73-75

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

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