18 August 1997
Grain market update
Fridays trading – 15 August 1997
THE market opened weaker on Friday, but soon turned as the currency weakened and one consumer aggressively bought futures. Reports of lower yields also helped the market improve.
Spot wheat was valued at £76-£78, depending on quality and location, with barley being valued at £68-£70 per tonne ex-farm.
Milling wheats appear to have good levels of protein and Hagberg but do contain higher-than-average screenings and low kilo weight, and evidence of ergot has been found in several crops. Black ends will also be a problem this year.
Chicago finished mixed, with support coming from news that Pakistan may soon tender for upto 350,000t of optional origin wheat.