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Currencies and grain trading

- 17 July 1998
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17 July 1998

Currencies and grain trading



Friday, 17 July, 1998

  • £1=DM2.931 / FFr9.26/ $1.639

  • French FOB spot wheat value: FFr 750.0 (£ 76.32)

  • Chicago July wheat at close: $2.62 (£ 58.66)





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:


MONTH Close Change
SEP 71.00 -0.90
NOV 73.00 -1.15
JAN 75.00 -1.00
MAR 77.00 -1.00
MAY 79.00 -1.00

    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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