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Grain market update

- 16 February 1998
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16 February 1998

Grain market update


Fridays trading – 13 February 1998


DESPITE good prospects of UK wheat to Bangladesh and confirmation of Ethopia ex-UK, futures opened weaker. Support was found later in the day
and futures closed 25p up.

Bangladesh confirmed yesterday it had bought 150,000 t of European wheat at an average price of$160.71/ tonne CIF for shipment by 15 March. It is reported that Glancore sold 115,000 t and
Continental the remaining 35,000 t.

Chicago finished 4¢/bushel lower and the Bangladesh news will not help the opening call today.

  • £1=DM 2.987 / FFr 10.01 / $ 1.637
  • French FOB spot wheat value: FFr 827.50 (£ 82.66)
  • Chicago December wheat at close: $ 3.29 (£ 72.85)






Prices at yesterdays
wheat futures close:

MONTH Close Change
MAR 80.00 + 0.35
MAY 82.00 + 0.50
JUL 83.75 + 0.25
SEP 80.50 + 0.25
NOV 82.50 + 0.25
JAN 84.50 + 0.25

    Approximate commodity
    values, £/ tonne, ex-farm:




    Class 1 milling103
    Feed wheat74
    Feed barley69




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