Grain market update
29 August 1997
Grain market update
Thursdays trading – 28 August 1997
DESPITE weaker Sterling and a lack of spot supply, futures drifted lower as shippers were keener to make forward sales, with UK wheat being £5 / £6/T more expensive than other origins.
September wheat IS now valued at £80-84/t ex-farm, depending on quality and location. Good premiums are being paid for immediate Group 1s. Feed barley is valued at £73-74 for September, depending on proximity to the ports.
Brussels granted 350,000 million tonnes of free-market soft wheat restitutions at a tax of Ecu0.01.
Chicago finished slightly higher as concerns mounted over the El Niño weather pattern and its effect on Southern Hemisphere crops.
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