Grain market update

19 August 1997

Grain market update

Mondays trading – 18 August 1997

WITH a distinct lack of farm selling, buyers need to cover immediate shorts and weaker Sterling pushed futures £1.40 higher in the morning session. Spot wheat is now valued at £77-£80/t ex-farm with barley still valued at £68-£70/t ex-farm.

Yields appear to be on average 0.5mt/acre down on last year and the crop estimates at present are 14-14.8 million tonnes.

Chicago finished unchanged to 3¢/bushel higher on world weather worries and talk that Egypt might soon enter the market for another quantity of wheat.

  • £1=DM2.942 / FFr9.916 / $1.605
  • French FOB spot wheat value: FFr887.00 (£89.45)
  • Chicago September wheat at close: $3.58 (£80.29)
  • Prices at yesterdays wheat futures close:

MONTH Close Change
JUL 0.00 0.00
SEP 85.50 + 1.00
NOV 88.50 + 1.00
JAN 90.50 + 1.00
MAR 92.50 + 1.00
MAY 94.50 + 1.00

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

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