Currencies and grain trading

27 July 1998

Currencies and grain trading

Monday, 27 July, 1998

• £1=DM2.948 / FFr9.885 / $1.657
  
  
• French FOB spot wheat value: FFr 720 (£ 72.83)
  
  
• Chicago September wheat at close: $2.65 (£ 58.69)

LAST week ended quietly as there was plenty of action in the field but very few purchases. Both new- and old-crop wheat fell by £5/ tonne for movement over the next two weeks, but both still trade at a healthy premium over the “As Available market. The first sample of Soissons collected on Friday from Ipswich had a bushel weight of 81kg.


Egypt yesterday bought 200,000 t of French wheat for August-September shipment at $86-$86.90/ tonne (~£52.57).