Currencies and grain trading
02 June 1998
Currencies and grain trading
Tuesday, 2 June, 1998
CURRENCY movements pushed new-crop futures down 70p before profit-takers entered the market near the close. There is very little consumption interest now as most buyers looking towards new-crop.
USDA reported overnight that 2% of the US wheat crop has been harvested and yields are turning out better than expected. This news left Chicago bouncing
along at five-year lows and looking for buyers.
Prices at Mondays
wheat futures close:
MONTH
Close
Change
JUL
76.00
0.00
SEP
76.25
-0.20
NOV
78.25
-0.20
JAN
80.25
-0.20
MAR
82.25
-0.20
MAY
84.25
-0.20
Approximate commodity
values, £/ tonne, ex-farm:
June Class 1 milling 115
June feed wheat 71
June feed barley 68
Harvest feed wheat 67
Harvest barley 63