Currencies and grain trading
05 June 1998
Currencies and grain trading
Friday, 5 June, 1998
DESPITE a small interest-rate rise, Sterling finished almost unchanged on the day, which reflects the lack of interest from both buyer and seller on a quiet market.
The EU rejected all bids for new-crop wheat and barley yesterday.
Good drilling conditions gave Australias wheat forecasters the confidence to predict a 20.2 million tonne wheat crop v the 17.5 million tonne forecast last month.
Prices at Thursdays
wheat futures close:
MONTH
Close
Change
JUL
75.25
+ 0.25
SEP
76.60
+ 0.35
NOV
78.60
+ 0.10
JAN
80.60
+ 0.10
MAR
82.60
+ 0.10
MAY
84.60
+ 0.10
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