Currencies and grain trading


22 May 1998


Currencies and grain trading


Friday, 22 May, 1998

  • £1=DM2.865 / FFr9.613 / $1.629

  • French FOB spot wheat value: FFr 700 (£ 72.25)

  • Chicago July wheat at close: $2.98 (£ 67.13)



WEAKER Sterlng pushed new-crop futures higher but, with most of the Continent on holiday, trading was thin. Some speculated the Continentals would have seen this as a good selling opportunity as the fundamentals have not changed. Old-crop wheat is still difficult to sell in volume and becoming easier to buy from the farm as we approach harvest.


OSR has fallen by £5 this week and is now only valued around & #163;152 for harvest; Chicago is trading at six-week lows.





Prices at Thursdays
wheat futures close:


MONTH Close Change
MAY 74.00 + 0.25
JULY 75.25 + 0.60
SEP 76.50 + 0.85
NOV 78.50 + 0.85
JAN 80.65 + 1.00
MAR 82.65 + 1.00

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






    June Class 1 milling114
    June feed wheat71
    June feed barley68
    Harvest feed wheat69
    Harvest barley65




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

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