Grain market update


16 March 1998


Grain market update


Friday 13 March


THE UK wheat market drifted once again, even when consumers came to buy new crop. The barley market found some resistance as exporters applied for licences to export 1.059 million tonnes against the fixed subsidy of Ecu47.

Chicago finished 2¢/bushel lower on profit taking.

Sterling has entered the first of a possible five confirmation periods ahead of a revaluation taking
around 50 days to complete.

  • £1=DM 3.037 / FFr 10.183 / $ 1.668
  • French FOB spot wheat value: FFr 810 (£ 79.54)
  • Chicago December wheat at close: $3.35 (£ 72.30)






Prices at Fridays
wheat futures close:

MONTH Close Change
MAR 74.75 -0.50
MAY 76.75 -0.50
JUL 78.75 -0.50
SEP 76.90 -0.35
NOV 78.90 -0.35
JAN 80.90 -0.35

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





    March Class 1 milling101
    March feed wheat70
    March feed barley68
    Harvest feed wheat70/71

    New-crop Class 2 premium is £4/5/ tonne




  • Information provided by BDR Agriculture Ltd, Harvest House, 64 North Street, Bourne, Lincolnshire PE10 9AJ – click here for further details

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