Currencies and grain trading

24 July 1998

Currencies and grain trading

Friday, 24 July, 1998

  • £1=DM2.949 / FFr9.884 / $1.651

  • French FOB spot wheat value: FFr 720 (£ 72.84)

  • Chicago July wheat at close: $2.65 (£ 58.90)

YESTERDAY was another quiet day, with most traders waiting for news of restitutions from the EC:

  • 217,500 tonnes of wheat at Ecu29.99/ t;
  • 100,000 tonnes of barley at Ecu45.75/ t.
    Taking the French price FOB Rouen this translates to a price of $94 FOB (£56.93).

    Chicago finished 2¢ lower, again setting new contract lows.

    Prices at Thursdays
    wheat futures close:

    MONTH Close Change
    SEP 69.50 0.00
    NOV 71.75 + 0.25
    JAN 73.50 0.00
    MAR 75.50 0.00
    MAY 77.50 0.00

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

      CommodityPrice range
      July Class 1 milling112-115
      July feed wheat71-75
      July biscuit wheat75-80
      Harvest feed wheat62
      Harvest feed barley60-61

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


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