Grain market update


24 February 1998


Grain market update


Mondays trading – 23 February 1998


STERLING fell yesterday on the news of UN Secretary-General Kofi Annans written agreement with Iraq. This weakness gave futures the largest rise we have seen in the past few weeks, but without support on the old crop from consumers, it may not last long

UK offers of barley into Intervention have now reached 665,000 tonnes and many estimate the total will reach 1 million tonnes.

Chicago finished 4¢/bushel higher on talk that India would tender for at least 200,000 tonnes this week and concerns about cold weather in the US plains.

  • £1=DM 2.953 / FFr 9.904 / $ 1.645
  • French FOB spot wheat value: FFr 822.50 (£ 83.04)
  • Chicago December wheat at close: $ 3.26 (£ 71.34)






Prices at yesterdays
wheat futures close:

MONTH Close Change
MAR 79.25 + 0.85
MAY 81.70 + 0.70
JUL 83.70 + 0.70
SEP 80.75 + 0.35
NOV 82.75 + 0.35
JAN 84.75 + 0.35

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




    Class 1 milling102
    Feed wheat74
    Feed barley69




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

  • Read and respond to grain-business issues in the BCE Forum on FWiClick here

  • See more