Currencies and grain trading
- £1=DM2.941 / FFr9.86 / $1.638
- French FOB spot wheat value: FFr 777.50 (£ 78.85)
- Chicago September wheat at close: $2.53 (£ 56.68)
SPOT wheat was still leading the market yesterday, with merchants paying over the market price to secure immediate wheat against above-market shorts. Consumers were not following too hard and were looking to top up September at £2/3 below these levels once the shippers are
taken out. In Australia, ABARE has forecast a 24m-tonne Australian wheat crop, against last months forecast of 21.5m tonnes.
Prices at Mondays
wheat futures close:
MONTH
Close
Change
SEP
71.25
-0.20
NOV
72.50
-0.50
JAN
74.40
-0.50
MAR
76.30
-0.45
MAY
78.30
-0.45
Approximate commodity
values, £/tonne, ex-farm:
Commodity Price
Harvest Class 1 milling wheat 82
Harvest Class 2 milling wheat 73
Harvest Soissons 73
Harvest feed wheat 65-68
Harvest feed barley 63-64