Currencies and grain trading

21 July 1998

Currencies and grain trading

Tuesday, 21 July, 1998

• £1=DM2.936 / FFr9.851 / $1.647
  
  
• French FOB spot wheat value: FFr 770 (£ 78.16)
  
  
• Chicago July wheat at close: $2.68 (£ 59.71)

MONDAY was a quieter day than expected, with very few barleys ready to move. Yields reported to date are mixed, and a better picture will develop over the next few days when parcels have been completed. OSR is now moving, mainly to stores, with anticipated pressure on movement still to come.


Chicago finished marginally higher with yesterdays news of wheat “donations” to needy countries. This will surely limit exports from other nations such as Argentina and Australia.