Grain market update
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.
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 milling 102
Feed wheat 74
Feed barley 70