Grain market update
23 February 1998
Grain market update
Fridays trading – 20 February 1998
A MARGINALLY weaker end to a quiet week absorbed plenty of potential export news, but all were nearby shipments. The next Bangladesh food aid tender will be on Tuesday, for 80,000 t. Some traders are now questioning UK supply-and-demand figures – is the forecast domestic usage too high?
UK OSR prices remain firm, with some export business done and little left on farms. Interestingly, the UK crusher seems not to be buying old crop because prices are now too high.
Prices at yesterdays
wheat futures close:
MONTH
Close
Change
MAR
78.40
-0.45
MAY
81.00
-0.25
JUL
83.00
-0.25
SEP
80.40
0.00
NOV
82.40
0.00
JAN
84.40
0.00
Approximate commodity
values, £/ tonne, ex-farm:
Class 1 milling 102
Feed wheat 74
Feed barley 69