Grain market update

09 September 1997

Grain market update

Mondays trading – 8 August 1997

FUTURES opened 50p higher yesterday as Sterling lost ground, but soon found resistance and in the afternoon session fell by 75p, to finish 25p down on the day.

Good premiums were still being paid for quality biscuit wheats and Group 1 and Group 2 milling wheats, as harvesting in the North is not yet completed and quality in most areas is very poor. Some end-users are now prepared to buy wheats up to Christmas at what seem good levels against export – UK market £6-7/t too expensive compared with the French.

  • Spot feed/biscuit wheat: £82-87/t
  • Spot milling wheat: £103-106/t
  • Spot Oilseed rape: £154/t
  • Peas and beans: Large blues are getting a small premium and Victor beans are wanted at a £5/t premium.

Chicago finished weaker as reports were received of better weather in Australia and of Egypt cancelling a tender for 100,000t of U.S wheat

  • £1=DM 2.864 / FFr 9.634 / $ 1.585
  • French FOB spot wheat value: FFr 887.50 (£ 92.12)
  • Chicago September wheat at close: $ 3.75 (£ 85.17)
  • Prices at yesterdays wheat futures close:

MONTH Close Change
JUL 0.00 0.00
SEP 87.50 -0.25
NOV 88.85 -0.15
JAN 90.75 -0.25
MAR 92.75 -0.25
MAY 94.75 -0.25

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

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