Currencies and grain trading

02 June 1998

Currencies and grain trading

Tuesday, 2 June, 1998

  • £1=DM2.918 / FFr9.788 / $1.638

  • French FOB spot wheat value: FFr 705 (£ 72.02)

  • Chicago July wheat at close: $2.84 (£ 63.63)

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 milling115
    June feed wheat71
    June feed barley68
    Harvest feed wheat67
    Harvest barley63

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

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