AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

PARIS: Euronext wheat edged higher on Tuesday, consolidating above a six-week low with support from Chicago futures as the market awaits direction from widely followed US government crop forecasts.

A purchase of Russian wheat by Egypt in a tender drew little reaction as it confirmed availability of cheaper Russian supplies.

Front-month September milling wheat on the Paris-based Euronext exchange was up 1 euro, or 0.6%, at 178 euros ($209.40) a tonne at 1610 GMT. It earlier touched Monday's six-week low of 176.75 euros.

Chicago futures added more than 1% as they also came off a multi-week low.

An unexpectedly sharp cut to the US Department of Agriculture's weekly rating of US spring wheat crops raised some uncertainty ahead of the USDA's world supply and demand forecasts on Wednesday.

Wheat prices have been pressured in the past week by increased forecasts for Russia's harvest as well as some other exporting countries, which has taken attention away from a poor French crop that is set to drag European Union production lower this year.

The French cash market was underpinned by a lack of sellers in the face of a disappointing wheat and barley harvest as well as drought-reduced prospects for the maize crop, traders said.

Storms that are set to ease a heatwave in France from Tuesday could bring some relief for stressed maize plants, they added.

The German wheat harvest is entering its final stages in northern and eastern areas and could be wrapped up this week as dry, sunny weather is set to continue in these regions.

"I would estimate that nationally about 90% of Germany's wheat has now been harvested," one German trader said.

Comments

Comments are closed.