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Thursday, February 25, 1999

SFE wheat futures tradeless, cash market falls 

REUTERS  
Sydney, Feb 24: Sydney Futures Exchange (SFE) wheat failed to score a trade on Wednesday as interest switched from futures into a falling cash market.

Wheat futures generally softened slightly with settlement prices of untraded contracts falling mostly by less than A$1 a tonne.

Cash grains fell more heavily in busier trading, with quotes by New England Agricultural Traders (NEAT) down by A$5 a tonne for Australian standard white wheat for March delivery in Brisbane and by A$1 for March delivery Newcastle.

Cash sorghum also fell by A$2-A$3 a tonne but new crop Queensland barley remained steady.

NEAT trader Richard Alcorn attributed the cash price falls to the weight of harvest and to dull futures markets in Chicago and Sydney.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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