Currencies and grain trading

13 August 1998

Currencies and grain trading

Thursday, 13 August, 1998

  • £1=DM2.915 / FFr9.775 / $1.629

  • French FOB spot wheat value: FFr 765 (£ 78.26)

  • Chicago September wheat at close: $2.58 (£ 57.18)

FRENCH wheat farmers are celebrating the crop of the century. Yesterday (Wednesday) the countrys top grain region reported a hike in output that smashes official records. France had already forecast an historic crop of 36 million tonnes, and it now looks likely to top that by a further million. France is the second biggest wheat exporter after the USA, and this adds to the perception of big supplies on the world market.

Prices at Wednesdays
wheat futures close:

MONTH Close Change
SEP 70.75 + 0.50
NOV 73.05 + 0.80
JAN 75.00 + 0.75
MAR 77.00 + 0.75
MAY 79.00 + 0.75

    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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