Currencies and grain trading (Tuesday, 14:00)

• £1=DM2.849 / FFr9.555/ $1.678
  
  
• FOB Rouen spot wheat value: FFr 755.00 (£ 79.01)
  
  
• Chicago September wheat at close: $2.48 (£ 54.24)

THE harvest has been completed in the south and is 10-15% away from completion in the Midlands . North Lincolnshire, harvest is 75% complete and in Yorkshire, 75-80%.


Quality in general appears better than last year, with the exception of the Newport Pagnell area where kilo weights on some lots are below 70kgs. Most Class 1 milling wheats will qualify for full milling price, but Rialto has suffered from ergot and either low hag or low protein, and will need to find other markets. Soissons has performed well and is finding a premium between other Group 2s and Group 1 milling. Brigadier acreage, down to 8% this year v 15% last year, will mean the flour millers will look for alternatives or use a greater inclusion of Class 2.


The market seems to have found a level now, with £70 being the value for September/October/November feed wheat in most areas.