Currencies and grain trading

21 May 1998

Currencies and grain trading

Thursday, 21 May, 1998

• £1=DM2.888 / FFr9.688 / $1.633
  
  
• French FOB spot wheat value: FFr 700 (£ 72.25)
  
  
• Chicago July wheat at close: $3.02 (£ 67.87)

YESTERDAY was another day with old-crop prices weaker and new-crop following . There was very little consumption interest for the remainder of the season and quantities of wheat still remain unsold on-farm.


The best prices are for Riband, Consort, Brigadier with mid-range proteins,
73kgs and 180 hag – these are commanding a £3/4 premium over feed and this may not be the case when new-crop comes along. French prices are still drifting, making the UK uncompetitive for export at present.