AGL 38.50 Decreased By ▼ -0.06 (-0.16%)
AIRLINK 217.00 Increased By ▲ 9.23 (4.44%)
BOP 10.35 Increased By ▲ 0.29 (2.88%)
CNERGY 7.00 Decreased By ▼ -0.08 (-1.13%)
DCL 9.95 Decreased By ▼ -0.04 (-0.4%)
DFML 41.00 Decreased By ▼ -0.14 (-0.34%)
DGKC 105.06 Increased By ▲ 1.60 (1.55%)
FCCL 37.20 Increased By ▲ 0.85 (2.34%)
FFBL 93.14 Increased By ▲ 1.55 (1.69%)
FFL 14.63 Increased By ▲ 0.03 (0.21%)
HUBC 140.81 Increased By ▲ 1.38 (0.99%)
HUMNL 14.45 Increased By ▲ 0.35 (2.48%)
KEL 6.02 Increased By ▲ 0.05 (0.84%)
KOSM 7.44 Decreased By ▼ -0.42 (-5.34%)
MLCF 48.15 Increased By ▲ 0.87 (1.84%)
NBP 69.91 Decreased By ▼ -3.85 (-5.22%)
OGDC 228.50 Increased By ▲ 5.84 (2.62%)
PAEL 39.20 Increased By ▲ 1.09 (2.86%)
PIBTL 9.33 Increased By ▲ 0.06 (0.65%)
PPL 209.50 Increased By ▲ 3.65 (1.77%)
PRL 40.64 Increased By ▲ 0.79 (1.98%)
PTC 26.93 Increased By ▲ 0.31 (1.16%)
SEARL 110.47 Increased By ▲ 0.23 (0.21%)
TELE 9.47 Increased By ▲ 0.24 (2.6%)
TOMCL 38.90 Increased By ▲ 0.69 (1.81%)
TPLP 14.05 Increased By ▲ 0.28 (2.03%)
TREET 26.63 Increased By ▲ 0.18 (0.68%)
TRG 60.75 Increased By ▲ 0.21 (0.35%)
UNITY 34.32 Increased By ▲ 0.18 (0.53%)
WTL 1.84 Decreased By ▼ -0.04 (-2.13%)
BR100 12,449 Increased By 149.7 (1.22%)
BR30 39,443 Increased By 565.7 (1.45%)
KSE100 115,289 Increased By 428.4 (0.37%)
KSE30 36,338 Increased By 141.8 (0.39%)

CHICAGO: Chicago Board of Trade soybean and corn futures extended a rally to new multi-month peaks on Wednesday as dry weather in some South American growing belts stoked supply concerns.

Wheat futures rose for a fifth straight session, tracking corn and soy while also drawing support from brisk global demand and Ukraine considering limits on exports, analysts said.

Technical buying helped boost the markets in pre-holiday trading, traders said.

The most-active soyabean contract closed up 22-1/4 cents at $13.35 a bushel, extending gains for a seventh day and reaching the highest price since Aug. 25.

Most-active CBOT corn rose for a second session, ending up 4-1/4 cents at $6.02-1/2 a bushel and topping the $6 level for the first time since July 1.

“South American weather is concerning for the southern part of Brazil and Argentina as dry weather looks to persist to the end of the year,” CHS Hedging said.

Drought in southern Brazil and developing dryness in parts of Argentina have tempered earlier optimism about South American harvest prospects. Crop losses in South America could shift export demand to the United States.

“The 15-day weather forecast does not point to any improvement,” consultancy Agritel said.

Comments

Comments are closed.