Grain market update


18 March 1998


Grain market update


Monday 17 March, 1998


BUDGET Day saw Sterling up, down, and finally up again – after the close. Futures initially looked weaker but, with the uncertainty over the
direction of Sterling, profit-takers entered the market and futures finished marginally up on the day.


The Intervention Board reports a total of 991,713 tonnes of barley offered and, with the possibility of a green rate revaluation in early May, the total offered could reach 1.2 million tonnes by the end of April.


Chicago finished 1-3¢/bushel higher on fund buying as the forecast remains unchanged for wet and cool weather to continue in the US
south-east and Mid-West.

  • £1=DM 3.046 / FFr 10.209 / $ 1.671
  • French FOB spot wheat value: FFr 810 (£ 79.34)
  • Chicago December wheat at close: $3.40 (£ 73.24)






Prices at Fridays
wheat futures close:

MONTH Close Change
MAR 74.85 + 0.35
MAY 76.85 + 0.35
JUL 78.85 + 0.35
SEP 77.25 + 0.65
NOV 79.25 + 0.65
JAN 81.25 + 0.65

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





    March Class 1 milling101
    March feed wheat70
    March feed barley66
    Harvest feed wheat70/71

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




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