Grain market update

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.

  • £1=DM2.923 / FFr9.847 / $1.614
  • French FOB spot wheat value: Ffr887.50 (£90.12)
  • Chicago September wheat at close: $3.54 (£78.95)
  • Prices at yesterdays wheat futures close:

MONTH Close Change
JUL 0.00 0.00
SEP 84.50 + 0.90
NOV 87.50 + 0.90
JAN 89.50 + 0.90
MAR 91.50 + 0.90
MAY 93.50 + 0.90

Information provided by BDR Agriculture Ltd, Harvest House, 64 North Street, Bourne, Lincolnshire PE10 9AJ– click here for further details

See more