Currencies and grain trading
23 June 1998
Currencies and grain trading
Tuesday, 23 June, 1998
OLD-CROP wheat trading is becoming more of a game each day, with both longs and shorts trying to manipulate the market to their advantage. New-crop reacted to stronger Sterling but, with levels almost at contract lows and several consumers looking to take small amounts of cover, it should not fall too far in the short term.
Prices at Mondays
wheat futures close:
MONTH
Close
Change
JUL
77.25
-1.75
SEP
73.00
-0.25
NOV
75.00
-0.25
JAN
77.00
-0.25
MAR
79.00
-0.25
MAY
81.00
-0.25
Approximate commodity
values, £/ tonne, ex-farm:
June Class 1 milling 115
June feed wheat 71
June feed barley 65
Harvest feed wheat 66
Harvest barley 62