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)






Prices at yesterdays
wheat futures close:

MONTH Close Change
MAR 76.5 -0.75
MAY 78.50 -0.75
JUL 80.50 -0.75
SEP 77.50 -0.75
NOV 79.5 -0.75
JAN 81.50 -0.75

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




    Class 1 milling102
    Feed wheat73
    Feed barley69




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