Grain market update

19 September 1997

Grain market update

Thursdays trading – 18 September 1997

Thursday was a quiet day, with Sterling improving 4 pfennigs and futures responding by falling almost £1/t. There is still a good demand for spot biscuit wheat, with as much as £90/t being paid for 76kg Riband and Consort. Class 1 is also sought-after for prompt delivery at £106-111/t ex-farm, depending on location and quality.

Oilseed rape showed signs of improvement early yesterday as £160/t ex-farm for December was paid – £30 up from harvest levels.

Chicago finished slightly lower as the news of 50,000 tonnes free market soft wheat restitutions was seen as the start of an aggressive export programme by the EU – it would need to be more like 400,000 tonnes/week for that to be the case.

  • £1=DM 2.864 / FFr 9.620 / $ 1.607
  • French FOB spot wheat value: FFr 875.00 (£ 90.95)
  • Chicago December wheat at close: $ 3.69 (£ 82.66)
  • Prices at yesterdays wheat futures close:

MONTH Close Change
JUL 0.00 0.00
SEP 86.15 -0.35
NOV 87.15 -0.95
JAN 89.05 -0.95
MAR 91.05 -0.95
MAY 93.05 -0.95

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

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