Grain market update

03 March 1998

Grain market update

LACK of demand at the start of a month did not
help an already weak start as sterling tested DM 3.00.
Buyers were few . The trade estimates Feb exports
to be in the region of 300k. March is estimated to
be similar. Both merchants and
shippers looked to sell so new crop drifted. Consumers were absent as
they had taken some cover weeks ago.

Chicago finished 2¢/bushel higher as fund covered their shorts. The talk was that India would soon be in the market

• £1=DM 2.989 / FFr 10.02 / $ 1.646
  
• French FOB spot wheat value: FFr 810.0 (£ 80.83)
  
• Chicago December wheat at close: $ 3.29 (£ 71.95)