26 August 1997
Grain market update
Mondays trading – 25 August 1997
WITH Sterling hovering low for the week and profit-takers evident, UK wheat futures showed no signs of weakening. Sufficient spot wheat is now keeping consumers happy ,but very little forward grain coming to market will stop the spot market falling too far, if at all. Spot wheat is now valued at £78/£80/t, with barley being valued around £70/t. Class 1 milling wheat is valued at around £100/t ex-farm.
Chicago finished lower on Monday as indications showed export demand was slowing.
Oilseed Rape prices have risen £15- £20 since harvest lows, with a large crop still to come to market – selling will have to be cautious.