Currencies and grain trading

  • £1=DM2.930 / FFr9.84 / $1.631

  • French FOB spot wheat value: FFr 777.50 (£ 79.01)

  • Chicago September wheat at close: $2.55 (£ 57.37)

BRUSSELS granted wheat restitutions of 284,000t at Ecu32.98/tonne and 60,000t of barley at Ecu53.86/tonne. This wheat restitution roughly values French wheat at $94/tonne (£57.63/tonne).

Bangladesh bought 210,000t of optional-origin wheat yesterday, which some think will come from UK. However, unless values fall by £2-3/tonne or French values rise by the same, grain trader BDR estimates that the UK will probably ship 75,000-115,000t.

This news put spot prices near to the deep-water ports up by £1/tonne for August/September – shipment is by 25 September, but after these shipments there is no bullish news at present. Farmers are also adding to the tight supply of wheat by holding as much as possible .

Prices at Thursdays
wheat futures close:

MONTH Close Change
SEP 71.65 + 0.40
NOV 73.65 + 0.40
JAN 75.65 + 0.40
MAR 77.40 + 0.25
MAY 79.40 + 0.45

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

    Harvest Class 1 milling wheat81
    Harvest Class 2 milling wheat72
    Harvest Soissons73
    Harvest feed wheat65-67
    Harvest feed barley63-64

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

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