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.
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 milling 102
Feed wheat 73
Feed barley 69