Currencies and grain trading


16 April 1998


Currencies and grain trading


Thursday, 16 April, 1998

  • £1=DM3.037 / FFr10.182 / $1.682

  • French FOB spot wheat value: FFr 740.00 (£ 72.67)

  • Chicago May wheat at close: $3.05 (£ 66.54)



Futures:


FOR most of the day, futures traded around 25p up but, as Sterling eased prior to the close, further buyers emerged to push futures a further 50p higher. Sterling then firmed after the close from DM3.026 to DM3.032.
Class 1 milling wheat strengthened once again as shorts scrambled for the few farm offers made and prices reached a high of £108 ex-farm for April.


Chicago finished 1-4¢/bushel higher, tied to technical signals that the market was oversold, and on reports of cold weather in the US Great Plains.





Prices at Wednesdays
wheat futures close:


MONTH Close Change
MAY 74.00 + 0.75
JULY 76.00 + 0.75
SEP 75.00 + 0.75
NOV 77.00 + 0.75
JAN 79.00 + 0.75
MAR 81.00 + 0.75

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





    April Class 1 milling104/108
    April feed wheat67/69
    April feed barley70/72
    Harvest feed wheat67/69




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

  • See more