Currencies and grain trading
17 July 1998
Currencies and grain trading
Friday, 17 July, 1998
The EU granted 71,000 million tonnes wheat restitutions at 27.94 ecus per tonne. This implies an FOB price of just below £100 per tonne – the lowest price for four years. UK futures finished £1 lower as one French Trading House decided the UK market should follow the losses seen on the French market yesterday. Chicago finished marginally higher as news broke of Pakistan buying 300,000 million tonnes US wheat and 200,000 million tonnes Australian wheat.
Prices at yesterdays wheat futures close:
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values, £/ tonne, ex-farm:
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