Currencies and grain trading
- £1=DM2.741 / FFr9.193 / $1.684
- FOB Rouen spot wheat value: FFr 750.00 (£ 81.58)
- Chicago December wheat at close: $2.86 (£ 62.32)
THE UK market finished stronger again as Sterling slipped towards DM 2.74.
Bangladesh bought 99,000t of wheat overnight at around £74.64 C&F for nearby shipment. There is a good chance this could come from UK
Because of the weakness of the Swedish Krone, the UK Green Rate will be devalued under the three-day 6% rule to 0.689190, effective today. This will give an increased intervention price of Ecu120.19/tonne (£82.83) dd for November.
Prices at Mondays
wheat futures close:
MONTH
Close
Change
NOV
75.60
+ 0.70
JAN
77.60
+ 0.85
MAR
79.50
+ 0.70
MAY
81.25
+ 0.50
JUL
82.50
+ 0.50
SEP
79.50
+ 0.25
Approximate commodity
values, £/tonne, ex-farm:
Commodity Price
October Class 1 milling wheat 88-90
October Class 2 milling wheat 78-81
October Soissons 82-85
October feed wheat 70-72
October feed barley 69-71
Harvest 1999 feed wheat 74