Currencies and grain trading
15 May 1998
Currencies and grain trading
Friday, 15 May, 1998
Brussels granted restitutions of:
1,500 t wheat at Ecu21.7
20,000 t barley at Ecu53.74
4,000 t oats at Ecu44.9.
This valued French wheat at about $113 FOB June.
Old-crop futures fell dramatically yesterday as demand vanished for UK feed wheat, currently £3 more expensive than French. The only demand for wheat is from biscuit millers looking to top-up with good Riband, Consort and Brigadier. These three are now commanding a £3/ tonne
premium, but perhaps not for long – Soissons has been reported as in ear in Kent.
Prices at Wednesdays
wheat futures close:
MONTH
Close
Change
MAY
76.50
-1.50
JULY
77.90
-1.50
SEP
78.00
0.00
NOV
80.00
0.00
JAN
82.00
0.00
MAR
84.00
0.00
Approximate commodity
values, £/ tonne, ex-farm:
May Class 1 milling 114
May feed wheat 72
May feed barley 70/72
Harvest feed wheat 70