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Grain futures and currencies

- 03 June 1999
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  • Euro1=£0.6443
  • Intervention Price: £81.30

  • £1=DM3.0356 / FFr10.1811 / US$1.6114/ Euro1.5521

  • FOB Rouen May wheat value: FFr755 (£74.23)

  • Chicago July wheat at close: $2.53 (£57.88)

  • UK new-crop futures dropped yesterday as Sterling strengthened, but old-crop futures did not react, as we are trading the last few hundred thousand tonnes and internal supply and demand will rule.
  • Class 1 milling wheat is increasingly more difficult to sell, with most millers virtually covered to end-July/early August.
  • The Spanish trade now estimates Durum wheat production cut by 35-40% (500,000t) and soft wheat production is forecast to remain virtually unchanged.

Wheat futures – closing prices:

MONTH Close Change
JUL 79.00 unch
SEP 73.10 -0.50
NOV 75.10 -0.50
JAN 77.10 -0.60
MAR 79.00 -0.50
MAY 80.70 -0.50

    Approximate commodity
    values, £/tonne, ex-farm:

    CommodityPrice
    June Class 1 milling wheat86-87
    June Class 2 milling wheat80-83
    June SoissonsNot needed
    June feed wheat75-76
    June feed barley74-76
    June OSR115
    Harvest OSR107
    Harvest feed wheat67-68
    November feed wheat72-73

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


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