Grain market update

05 March 1998

Grain market update

After a slow start, futures were soon trading lower again but with very few buyers. Although March figures could be 400-450K tonnes, the April-June position is still under pressure from lack of demand.

Chicago finished 2¢/bushel lower as the Turkey announced it had a 3 million tonnes exportable wheat surplus and a possible 20 million tonnes crop this year – 2 million tonnes better than last year.

• £1=DM 2.990 / FFr 10.028 / $ 1.646
  
• French FOB spot wheat value: FFr 810.0 (£ 80.77)
  
• Chicago December wheat at close: $3.26 (£ 71.30)