Grain market update

27 August 1997

Grain market update

Tuesdays trading – 26 August 1997

A FALL in the value of Sterling, lack of farmer selling and consumer interest in the September position all contributed to a firmer market yesterday. This still makes the UK uncompetitive on the forward market and a correction will happen at some stage, whether it be in Sterling or market values.

Early September feed wheat is valued around £81/t with premiums available for better quality. September barley is valued around £72-74 ex-farm, depending on location relative to the ports.

Harvesting has come to a halt in most areas of the UK, with as much as 80% still to combine in parts of Yorkshire. Farmers should try and keep separate any wheats cut after the rains, or at least mark the sides of the store – this will lead to fewer problems when selling or delivering, as there will be a large variance in quality.

Chicago finished slightly down, following the decline in corn and no fresh export news.

  • £1=DM 2.894 / FFr 9.755 / $ 1.611
  • French FOB spot wheat value: FFr 902.5 (£ 92.51)
  • Chicago September wheat at close: $ 3.64 (£ 81.34)

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

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