Currencies and grain trading

08 May 1998

Currencies and grain trading

Friday, 8 May, 1998

• £1=DM2.896 / FFr9.773 / $1.648
  
  
• French FOB spot wheat value: FFr 735 (£ 75.20)
  
  
• Chicago July wheat at close: $3.16 (£ 70.37)

Brussels:
Wheat: 52,000 tonnes @ Ecu20.94/ tonne;
Barley offers rejected;

This values June French wheat at $115 FOB.


There were very few traders on old-crop wheat, with end-users requirements limited to July and early August. Most consumers were annoyed at missing opportunities on new-crop wheat over the past few weeks.


Quantities of OSR are now trading ex-farm for November at around £168/ tonne, with the potential for further purchases if the price reaches £170/ tonne.