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Grain market update

- 25 February 1998
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25 February 1998

Grain market update


Tuesdays trading – 24 February 1998


A SLIGHT firming of the pound caused futures to take a weaker tone. News of FOB defaults in the Wash ports will not help . There was no news of the Bangladesh tender.

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

Chicago finished 6¢/bushel with persistant reminders of ample world wheat supplies.

  • £1=DM 2.966 / FFr 9.946 / $ 1.650
  • French FOB spot wheat value: FFr 802.50 (£ 80.68)
  • Chicago December wheat at close: $ 3.20 (£ 69.81)






Prices at yesterdays
wheat futures close:

MONTH Close Change
MAR 79.20 -0.05
MAY 81.55 -0.15
JUL 83.60 -0.15
SEP 80.45 -0.30
NOV 82.45 -0.30
JAN 84.45 -0.30

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




    Class 1 milling102
    Feed wheat74
    Feed barley70




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