Currencies and grain trading


17 April 1998


Currencies and grain trading


Friday, 17 April, 1998

  • £1=DM3.054 / FFr10.242 / $1.692

  • French FOB spot wheat value: FFr 750.00 (£ 73.22)

  • Chicago May wheat at close: $3.04 (£ 66.32)



Futures:


ALTHOUGH Sterling imporoved in value, there were very few sellers of old-crop wheat as some think supplies are becoming tighter. Quite the reverse is the case with new-crop, as the thoughts are still of a very large crop and very few FOB enquiries. Unless there are port enquiries for new-crop, movement may be a major problem as some of the usual store homes are now intervention stores.


Brussels:145,000 t of wheat at Ecu18.99; 40,600 t of oats at Ecu37.95; barley – rejected.


Chicago finished slightly easier on news that the EU had effectively priced its wheat around $4/5 under competing US soft red wheat.





Prices at Thursdays
wheat futures close:


MONTH Close Change
MAY 73.70 -0.30
JULY 75.70 -0.30
SEP 74.50 -0.50
NOV 76.50 -0.50
JAN 78.50 -0.50
MAR 80.50 -0.50

    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

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