26 May 1998
Currencies and grain trading
Tuesday, 26 May, 1998
- £1=DM2.877 / FFr9.648 / $1.630
- French FOB spot wheat value: FFr 705 (£ 73.07)
- Chicago July wheat at close: $2.96 (£ 66.64)
FRIDAY saw a quiet end to the week, with sentiment pushing old-crop futures marginally lower, followed closely by new-crop.
Algeria is to launch a tender for the purchase of 175,000 t of optional-origin wheat today (Tuesday), with the most likely source being the USA, Argentina or Germany.
Egypt purchased 300,000 t of French wheat yesterday (Monday) at $107.45 ( £65.92 ) FOB for August shipment.
French Intervention offers have now reached 3,339,006 t, including 982,968 t of wheat, 1,735,682 t of barley and 572,012 t of maize.
Oilseed rape has fallen by £5 this week, and is now only valued around £152 for harvest, with Chicago trading at six-week lows.
Prices at Fridays
wheat futures close:
| MONTH |
Close |
Change |
| JUL |
75.00 |
-0.25 |
| SEP |
76.25 |
-0.25 |
| NOV |
78.25 |
-0.25 |
| JAN |
80.25 |
-0.40 |
| MAR |
82.25 |
-0.40 |
| MAY |
84.25 |
-0.40 |
|
Approximate commodity
values, £/ tonne, ex-farm:
| June Class 1 milling | 114 |
| June feed wheat | 71 |
| June feed barley | 68 |
| Harvest feed wheat | 69 |
| Harvest barley | 65 |
|
Information provided by BDR Agriculture Ltd, Harvest House, 64 North Street, Bourne, Lincolnshire PE10 9AJ – click here for further details
