AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

HAMBURG: European wheat futures fell on Tuesday to near two-week lows, pressured by a pullback in US and Russian prices and slack demand in France.

Benchmark December milling wheat on the Paris-based Euronext unofficially closed down 1.75 euros or 0.9% at 187.00 euros ($221.50) a tonne, after earlier touching its lowest since Sept. 2 at 186.50 euros.

A retreat from last week's 3-1/2 month high of 191 euros accelerated as Chicago futures fell and the Euronext benchmark breached resistance at 188.50 euros.

Falling Russian export prices also weighed.

"Sooner or later, Russian producers will switch to selling and international buyers (will switch) to southern hemisphere wheat," consultancy Agritel said. "This turning point needs to be monitored."

France's small crop curbed French export activity. Traders noted there were no wheat cargoes loading or scheduled at the start of the week at France's main grain export hub of Rouen.

In Poland, a lack of farmer selling coupled with a continued good flow of export shipments lent support.

Export prices for 12.5% protein wheat rose by 5 zloty on the week to around 785 zloty (176.5 euros) a tonne for September delivery to ports.

"Saudi Arabia's large purchase of 745,000 tonnes of wheat on Monday did not have an impact on prices today, but we expect a good portion of the Saudi tender will be delivered from Poland," one Polish trader said.

Prices paid by Saudi Arabia were regarded as low with the Baltic States also expected to win part of the business.

"I estimate Poland exported 170,000 tonnes of wheat by sea in July-August 2020, up from just over 100,000 tonnes the same time last year," the trader said.

Comments

Comments are closed.