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.
Prices at yesterdays
wheat futures close:
values, £/ tonne, ex-farm:
Class 1 milling 102
Feed wheat 74
Feed barley 69