AGL 37.75 Decreased By ▼ -0.40 (-1.05%)
AIRLINK 128.65 Increased By ▲ 3.58 (2.86%)
BOP 7.80 Increased By ▲ 0.95 (13.87%)
CNERGY 4.62 Increased By ▲ 0.17 (3.82%)
DCL 8.45 Increased By ▲ 0.54 (6.83%)
DFML 38.61 Increased By ▲ 1.27 (3.4%)
DGKC 81.05 Increased By ▲ 3.28 (4.22%)
FCCL 32.51 Increased By ▲ 1.93 (6.31%)
FFBL 74.84 Increased By ▲ 5.98 (8.68%)
FFL 12.34 Increased By ▲ 0.48 (4.05%)
HUBC 109.05 Increased By ▲ 4.55 (4.35%)
HUMNL 13.90 Increased By ▲ 0.41 (3.04%)
KEL 4.97 Increased By ▲ 0.32 (6.88%)
KOSM 7.55 Increased By ▲ 0.38 (5.3%)
MLCF 38.30 Increased By ▲ 1.86 (5.1%)
NBP 72.20 Increased By ▲ 6.28 (9.53%)
OGDC 186.50 Increased By ▲ 6.97 (3.88%)
PAEL 25.40 Increased By ▲ 0.97 (3.97%)
PIBTL 7.30 Increased By ▲ 0.15 (2.1%)
PPL 150.00 Increased By ▲ 6.30 (4.38%)
PRL 25.22 Increased By ▲ 0.90 (3.7%)
PTC 17.30 Increased By ▲ 0.90 (5.49%)
SEARL 82.19 Increased By ▲ 3.62 (4.61%)
TELE 7.57 Increased By ▲ 0.35 (4.85%)
TOMCL 32.51 Increased By ▲ 0.54 (1.69%)
TPLP 8.45 Increased By ▲ 0.32 (3.94%)
TREET 16.29 Increased By ▲ 0.16 (0.99%)
TRG 56.00 Increased By ▲ 1.34 (2.45%)
UNITY 28.20 Increased By ▲ 0.70 (2.55%)
WTL 1.33 Increased By ▲ 0.04 (3.1%)
BR100 10,525 Increased By 435.2 (4.31%)
BR30 30,939 Increased By 1430.5 (4.85%)
KSE100 98,215 Increased By 3641.1 (3.85%)
KSE30 30,625 Increased By 1180.5 (4.01%)

New-crop December corn fell more than 1 percent to a one-week low on Wednesday on forecasts for increased rain in the Midwest, which eased concerns about the heat-stressed crop as it heads into its critical pollination stage. US soyabean futures fell 2 percent, posting the biggest loss in over a week, as funds liquidated long holdings as concerns about the global economy weighed, despite a half percentage point drop in the dollar index.
"Macroeconomic nervousness has a grip on the markets right now, that and there have been no big changes in the weather forecasts to feed the bull," said Sterling Smith, oilseeds analyst for Citigroup. Corn also was pressured by the bearish corn stocks data in Tuesday's US Department of Agriculture (USDA) supply and demand report. The report kept US corn ending stocks unchanged after analysts had forecast a decline.
December corn, the first month to fully reflect this year's harvest, has tumbled nearly 6 percent in the past three days. The July contract is down more than 3 percent for the week. Last week it rallied 8 percent on forecasts for dry weather in the US Midwest. Such weather could interfere with the corn crop's pollination process which begins in mid-June.
At 10:41 am CDT (1541 GMT), Chicago Board of Trade new-crop corn for December delivery was down 9 cents at $5.13-1/2, spot July delivery was up 3 cents per bushel at $5.87. CBOT July soyabeans were down 28 cents at $14.07 and July wheat was up 3-1/2 at $6.19-1/2.

Copyright Reuters, 2012

Comments

Comments are closed.