Currencies and grain trading

14 July 1998

Currencies and grain trading

Tuesday, 14 July, 1998

  • £1=DM2.951 / FFr9.891 / $1.639

  • French FOB spot wheat value: FFr 760 (£ 76.83)

  • Chicago July wheat at close: $2.66 (£ 59.56)

Softer sterling pushed new crop futures higher. With buyers keeping away from the market, there will be further losses before prices improve. One shipper said: “If sterling fell to DM 2.7, it would make very little difference, there are no buyers”.

Prices at yesterdays
wheat futures close:

MONTH Close Change
JUL 75.50 -0.30
SEP 71.15 +0.65
NOV 73.15 +0.65
JAN 75.00 +0.65
MAR 77.00 +0.65
MAY 79.00 +0.65

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

    July Class 1 milling112-115
    July feed wheat70-72
    July biscuit wheat75-80
    Harvest feed wheat64-66

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


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