Grain market update
22 September 1997
Grain market update
Fridays trading – 19 September 1997
FRIDAY saw a very quiet end to a week which had seen futures fall by £1.50/t, with a lack of farmer selling and strong demand still around in the spot market. There is talk that the 68kg trades of last week were not fresh interest, but merely one shipper switching his 72kg sales to 68kg with Spanish buyers.
Feed wheat with fallbacks was valued at £81/t ex-farm for October, with good biscuit wheats making £90/t ex-farm. Class 1 traded at £106-110/t ex-farm, depending on location, with the carry to December almost non-existent.
Chicago finished mixed, but an announcement after the close that Egypt is about to tender for 50,000m tonnes of US wheat could firm Chicago today.
Peas and beans: Large blues are getting a small premium, and Victor beans are wanted at a £5 premium.
Oilseed rape showed signs of improvement as £160/t ex-farm for December was paid – £30/t up from harvest levels.
| MONTH | Close | Change |
|---|---|---|
| JUL | 0.00 | 0.00 |
| SEP | 86.00 | -0.15 |
| NOV | 87.00 | -0.15 |
| JAN | 89.00 | -0.05 |
| MAR | 91.00 | -0.05 |
| MAY | 93.00 | -0.05 |