Currencies and grain trading
17 April 1998
Currencies and grain trading
Friday, 17 April, 1998
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 milling 104/108
April feed wheat 67/69
April feed barley 70/72
Harvest feed wheat 67/69