Grain trade suffers New Year hangover

Monday, 5 January, 1998

By FWi staff

GRAIN traders returning to work today after the festive season may as well have stayed in bed.

Little has changed over Christmas and the New Year – with the exception that the market is quieter than ever.

A lack of trade this morning made calculating average prices impossible, according to the Home Grown Cereals Authority.

Cereal book prices remain similar to those before Christmas, with wheat at £78/ t; barley at £73/ t; and oilseed rape at about £168/ t. But actual deals are few and far between.

Intervention remains the favourite destination for barley this season with offers to government stores so far totalling more than 126,000 tonnes.

On the futures market, trade for any type of grain was virtually non-existant. The only contracts shifted were for wheat at £83.05 (March 1998) and £85.05 (May 1998).

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