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Grain market update

- 18 February 1998
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18 February 1998

Grain market update


Tuesdays trading – 17 February 1998


THE Australian Wheat Board on Wednesday said that Egypt had bought 150,000 tonnes of Australian wheat at a price estimated to be around $135. It is also rumoured that Egypt has purchased 150,000 tonnes of wheat from Argentina and France.

Chicago futures finished 5-7¢/bushel lower, just above the contract low for March of 3.21¢/bushel. A lack of export sales was cited as the cause.

The UK market was slightly lower yesterday as the Bangladesh business was absorbed into the market and consumers kept away.

  • £1=DM 2.977 / FFr 9.98 / $ 1.632
  • French FOB spot wheat value: FFr 827.50 (£ 82.91)
  • Chicago December wheat at close: $ 3.22 (£ 71.02)






Prices at yesterdays
wheat futures close:

MONTH Close Change
MAR 80.25 -0.40
MAY 82.30 -0.30
JUL 83.30 -0.30
SEP 80.85 -0.15
NOV 82.85 -0.15
JAN 84.85 -0.15

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




    Class 1 milling103
    Feed wheat74
    Feed barley69




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