Grain futures fall as Pound soars

Wednesday, 11 March, 1998

By FWi staff

GRAIN futures were hit badly this morning as Sterling once again broke through the DM3.00 barrier against the German Mark.

By mid-day today, the Pound was worth DM3.009. The market fought shy of barley contracts and wheat futures were only lightly-traded.

Old-crop wheat contracts for near months have now lost £1.50/ tonne in the past 48 hours. LIFFE futures are trading at £75.25 (March), £77.40 (May), and £79.25 (July).

New-crop wheat futures have lost £1/ tonne since Monday. They are now trading at £79.00 (November), £81 (January 98), and £83 (March 98).

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