AGL 37.80 Increased By ▲ 0.30 (0.8%)
AIRLINK 218.50 Decreased By ▼ -4.39 (-1.97%)
BOP 10.93 Increased By ▲ 0.11 (1.02%)
CNERGY 7.57 Increased By ▲ 0.01 (0.13%)
DCL 9.16 Decreased By ▼ -0.26 (-2.76%)
DFML 40.35 Decreased By ▼ -0.61 (-1.49%)
DGKC 102.11 Decreased By ▼ -4.65 (-4.36%)
FCCL 34.95 Decreased By ▼ -2.12 (-5.72%)
FFL 19.50 Increased By ▲ 0.26 (1.35%)
HASCOL 12.70 Decreased By ▼ -0.48 (-3.64%)
HUBC 131.00 Decreased By ▼ -1.64 (-1.24%)
HUMNL 14.59 Decreased By ▼ -0.14 (-0.95%)
KEL 5.19 Decreased By ▼ -0.21 (-3.89%)
KOSM 7.35 Decreased By ▼ -0.13 (-1.74%)
MLCF 45.80 Decreased By ▼ -2.38 (-4.94%)
NBP 66.04 Decreased By ▼ -0.25 (-0.38%)
OGDC 223.50 Increased By ▲ 0.24 (0.11%)
PAEL 44.30 Increased By ▲ 0.80 (1.84%)
PIBTL 9.01 Decreased By ▼ -0.06 (-0.66%)
PPL 194.00 Decreased By ▼ -4.24 (-2.14%)
PRL 43.50 Increased By ▲ 1.26 (2.98%)
PTC 26.62 Decreased By ▼ -0.77 (-2.81%)
SEARL 107.00 Decreased By ▼ -3.08 (-2.8%)
TELE 10.14 Decreased By ▼ -0.38 (-3.61%)
TOMCL 35.95 Decreased By ▼ -0.67 (-1.83%)
TPLP 14.58 Decreased By ▼ -0.37 (-2.47%)
TREET 25.98 Decreased By ▼ -0.55 (-2.07%)
TRG 67.40 Decreased By ▼ -1.45 (-2.11%)
UNITY 33.59 Decreased By ▼ -0.60 (-1.75%)
WTL 1.73 Decreased By ▼ -0.06 (-3.35%)
BR100 12,397 Increased By 33.3 (0.27%)
BR30 37,347 Decreased By -871.2 (-2.28%)
KSE100 117,587 Increased By 467.3 (0.4%)
KSE30 37,065 Increased By 128 (0.35%)

Spring wheat futures at the Minneapolis Grain Exchange closed mixed on Tuesday after a choppy session that saw prices rise to fresh contract highs in the day, traders said.
Inter-market spreading was supportive, with Minneapolis wheat gaining ground against futures in Kansas City and Chicago. But hedge pressure and profit taking limited the rally, traders said. Nearby months closed lower.
MGE July ended down 2-3/4 cents at $4.78 per bushel after reaching $4.86, above the previous contract high of $4.83. September settled down 1/2 at $4.86-1/2. Deferreds closed up 1/4 cent to 5 cents.
Country Hedging sold 100 July, 100 September and 100 December contracts, while ADM Investor Services bought 400 July, 250 September and 300 December, traders said. Wheat futures at all three US markets set contract highs on a decline in US winter wheat condition ratings.
As buyers disappeared, however, Chicago and Kansas City wheat retreated, pressuring Minneapolis.
The Agriculture Department said 30 percent of the US winter wheat crop was rated in good to excellent condition, down from 36 percent the previous week.
The USA's first spring wheat ratings of the year indicated the crop was off to a good start, a bearish factor for the Minneapolis market. The government rated 76 percent of the spring wheat crop as good to excellent, up from 74 percent a year ago.
The spring wheat crop was 90 percent planted, ahead of the five-year average of 85 percent, and 64 percent emerged, ahead of the five-year average of 58 percent. Overnight exports were routine. South Korean flour millers tendered to buy 23,000 tonnes of US No 1 wheat.
Japan said it offered to buy 151,000 tonnes of Canadian Australian and US wheat at its weekly on Thursday tender. Pakistan aims to export wheat for the first time in more than two years and will bid on tenders to sell grain to its long-time rival India, a Pakistani government official said.

Copyright Reuters, 2006

Comments

Comments are closed.