Grain market update

16 September 1997

Grain market update

Mondays trading – 15 September 1997

DESPITE a drop in Sterling, the futures market showed little sign of wanting to firm and, towards the end of the day, eased off to finish 10p down. The demand for wheat is still in the spot month where the market on feed/biscuit wheat is £80-90/t ex-farm, depending on quality and location. Premiums may not remain at these levels over the coming months as more grain becomes available.

Class 1 milling is still in demand for September, with values of £106-110, depending on location and quality.

Oilseed rape was valued at £152-153 ex-farm.

Feed barley was valued at £72-75 ex-farm.

Chicago finished lower on persistent reminders of the large supply of wheat worldwide. USDA estimates 1997/98 world ending-stocks at 122.42 million tonnes, v 107.9 million in 1996/97.

  • £1=DM 2.829 / FFr 9.500 / $ 1.602
  • French FOB spot wheat value: FFr 882.50 (£ 92.89)
  • Chicago December wheat at close: $ 3.69 (£ 82.92)
  • Prices at yesterdays wheat futures close:

MONTH Close Change
JUL 0.00 0.00
SEP 86.65 -0.35
NOV 88.15 -0.10
JAN 90.15 -0.10
MAR 92.15 -0.10
MAY 94.15 -0.10

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

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