Currencies and grain trading

11 August 1998

Currencies and grain trading

Tuesday, 11 August, 1998

  • £1=DM2.909 / FFr9.756 / $1.632

  • French FOB spot wheat value: FFr 725 (£ 74.31)

  • Chicago September wheat at close: $2.56 (£ 57.56)

UK futures closed lower as Sterling strengthened and spot wheat in East Anglia lost the early premiums of last week. Most new-crop wheats are now showing signs of better quality and quantity than last year, but there is still a long way to go. The Class 1 milling premium stands at around £15-16/ t on the forward market, with Class 2 milling trading at around £7/ t over feed. The French crop could be higher than recently predicted, at over 38m tonnes.

Prices at Mondays
wheat futures close:

MONTH Close Change
SEP 68.75 -0.50
NOV 70.75 -0.50
JAN 72.75 -0.50
MAR 74.75 -0.50
MAY 78.75 -0.50

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

    Harvest Class 1 milling wheat75
    Harvest Class 2 milling wheat70
    Harvest Soissons72
    Harvest feed wheat61
    Harvest feed barley60

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

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