AGL 38.30 Increased By ▲ 0.08 (0.21%)
AIRLINK 129.98 Increased By ▲ 1.01 (0.78%)
BOP 8.60 Increased By ▲ 0.75 (9.55%)
CNERGY 4.73 Increased By ▲ 0.07 (1.5%)
DCL 8.60 Increased By ▲ 0.28 (3.37%)
DFML 38.52 Decreased By ▼ -0.42 (-1.08%)
DGKC 84.38 Increased By ▲ 2.44 (2.98%)
FCCL 34.40 Increased By ▲ 0.98 (2.93%)
FFBL 76.25 Increased By ▲ 0.54 (0.71%)
FFL 12.68 Decreased By ▼ -0.14 (-1.09%)
HUBC 110.00 Decreased By ▼ -0.36 (-0.33%)
HUMNL 14.21 Increased By ▲ 0.20 (1.43%)
KEL 5.38 Increased By ▲ 0.23 (4.47%)
KOSM 7.78 Increased By ▲ 0.11 (1.43%)
MLCF 40.85 Increased By ▲ 1.05 (2.64%)
NBP 69.50 Decreased By ▼ -2.82 (-3.9%)
OGDC 190.20 Increased By ▲ 1.91 (1.01%)
PAEL 26.00 Increased By ▲ 0.37 (1.44%)
PIBTL 7.46 Increased By ▲ 0.09 (1.22%)
PPL 155.90 Increased By ▲ 3.23 (2.12%)
PRL 25.51 Increased By ▲ 0.12 (0.47%)
PTC 18.65 Increased By ▲ 0.95 (5.37%)
SEARL 82.35 Decreased By ▼ -0.07 (-0.08%)
TELE 7.81 Increased By ▲ 0.22 (2.9%)
TOMCL 32.80 Increased By ▲ 0.23 (0.71%)
TPLP 8.40 Decreased By ▼ -0.02 (-0.24%)
TREET 17.04 Increased By ▲ 0.26 (1.55%)
TRG 55.82 Decreased By ▼ -0.22 (-0.39%)
UNITY 29.00 Increased By ▲ 0.22 (0.76%)
WTL 1.35 No Change ▼ 0.00 (0%)
BR100 10,679 Increased By 20.3 (0.19%)
BR30 31,711 Increased By 379.6 (1.21%)
KSE100 99,392 Increased By 122.5 (0.12%)
KSE30 30,936 Decreased By -96 (-0.31%)

Hard red winter wheat futures on the Kansas City Board of Trade ended higher on Friday, closing out a choppy, two-sided session that saw wheat impacted by choppy outside markets and bearish fundamental factors. The KCBT December contract closed up 5 cents at $5.68, and March ended up 4-3/4 cents at $5.84-1/2. Back months were also higher.
December ranged from $5.60-1/2 to $5.70-1/4 on the day, and March ranged from $5.77 to $5.86-1/2. The market rose early, fuelled by gains in crude oil and in US equities. But weak fundamentals, including ample supplies and good new crop conditions, and as easing in equities and oil prices turned wheat lower by midday.
Positioning was noted ahead of Monday's November supply/demand reports from USDA. The average trade estimate for US wheat ending stocks was 586 million bushels, down from USDA's October estimate of 601 million. Argentina's wheat crop seen at 12 million tonnes, down 4 million from previous year - USDA attache'.
Egypt aims to buy at least half a million tonnes of wheat from France in 2008/09, after shunning French grain last year due to a lack of competitiveness. Indian wheat sowing rose 4.8 percent compared with a year ago, putting the country on track for bumper harvests.

Copyright Reuters, 2008

Comments

Comments are closed.