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%)

CHICAGO: Chicago Board of Trade soft red winter wheat futures firmed on Monday, hitting almost six-year highs, on concerns about dry conditions across key global growing areas, traders said.

But gains were limited as investors stood by after prices have rallied 8.6% so far this month.

"The market is just kind of collecting its breath in this area and seeing what the next move will be," said Dan Basse, president of AgResource Co in Chicago.

Corn and soyabean futures rose on bullish export expectations, shrugging off pressure from the ongoing US harvest.

At 11:20 a.m. CDT (1620 GMT), Chicago Board of Trade soft red winter wheat for December delivery was up 2-3/4 cents at $6.28 a bushel. The most active contract peaked at $6.36-3/4, its highest since Dec. 24, 2014, overnight.

Long-awaited rains arrived in parts of Russia over the weekend but more is needed, said consultancy IKAR.

CBOT December corn futures were up 3-1/4 cents at $4.05-1/4 and CBOT November soyabeans were 4 cents higher at $10.54.

Brazilian farmers had sowed 7.9% of the estimated soya area through Oct. 15, the slowest pace in a decade as drought made planting riskier, consultancy AgRural said.

"Any reduction in Brazil's crop will help push more export demand to the United States, where soyabean supplies are already looking tighter," said Matt Ammermann, StoneX commodity risk manager.

Private exporters reported sales of 345,000 tonnes of US corn to unknown destinations and 123,000 tonnes of US corn to Mexico for

delivery in the 2020/21 marketing year, the US Agriculture Department said on Monday.

Brazil's economy minister said over the weekend that the country would suspend tariffs on corn and soya imports from countries outside the Mercosur trade bloc until early next year.

Comments

Comments are closed.