Grain market update
19 March 1998
Grain market update
Wednesday 18 March, 1998
WITH the continued strength of Sterling, futures closed 50p-85p down. The knock-on effect has been seen on new-crop grains with values for November feed wheat around £74-75/ tonne ex-farm, depending on location.
French Intervention offers now exceed a million tonnes, which includes 821,000 t of barley and 15,000 t of soft wheat.
Chicago finished approx. 4¢/bushel lower in late trading.
New-crop Class 2 premium is £4-5/ tonne
Prices at Fridays
wheat futures close:
MONTH
Close
Change
MAR
74.15
-0.70
MAY
76.00
-0.85
JUL
78.00
-0.85
SEP
76.76
-0.50
NOV
78.75
-0.50
JAN
80.75
-0.50
Approximate commodity
values, £/ tonne, ex-farm:
March Class 1 milling 101
March feed wheat 70
March feed barley 66
Harvest feed wheat 70/71