AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.76 Increased By ▲ 0.08 (1.2%)
CNERGY 4.50 Decreased By ▼ -0.13 (-2.81%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 41.00 Decreased By ▼ -0.69 (-1.66%)
DGKC 81.30 Decreased By ▼ -2.47 (-2.95%)
FCCL 32.68 Decreased By ▼ -0.09 (-0.27%)
FFBL 74.25 Decreased By ▼ -1.22 (-1.62%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.03 Decreased By ▼ -0.52 (-0.47%)
HUMNL 13.80 Decreased By ▼ -0.76 (-5.22%)
KEL 5.29 Decreased By ▼ -0.10 (-1.86%)
KOSM 7.63 Decreased By ▼ -0.77 (-9.17%)
MLCF 38.35 Decreased By ▼ -1.44 (-3.62%)
NBP 63.70 Increased By ▲ 3.41 (5.66%)
OGDC 194.88 Decreased By ▼ -4.78 (-2.39%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.37 Decreased By ▼ -0.29 (-3.79%)
PPL 155.74 Decreased By ▼ -2.18 (-1.38%)
PRL 25.70 Decreased By ▼ -1.03 (-3.85%)
PTC 17.56 Decreased By ▼ -0.90 (-4.88%)
SEARL 78.71 Decreased By ▼ -3.73 (-4.52%)
TELE 7.88 Decreased By ▼ -0.43 (-5.17%)
TOMCL 33.61 Decreased By ▼ -0.90 (-2.61%)
TPLP 8.41 Decreased By ▼ -0.65 (-7.17%)
TREET 16.26 Decreased By ▼ -1.21 (-6.93%)
TRG 58.60 Decreased By ▼ -2.72 (-4.44%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,450 Increased By 43.4 (0.42%)
BR30 31,209 Decreased By -504.2 (-1.59%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

US wheat fell for the second straight day on Thursday after benchmark Paris futures hit a contract low, pressured by technical selling, ample global supplies and lacklustre export demand for shipments out of the United States. Chicago Board of Trade wheat futures extended declines after Euronext March milling wheat tumbled to a contract low of 166.25 euros a tonne. CBOT corn and soyabean futures each were narrowly lower, trading largely within the ranges established in recent days.
CBOT March wheat was down 9-3/4 cents, or nearly 2 percent, at $4.68-1/4 per bushel as of 10:40 a.m. (1640 GMT), after hitting a 2-1/2 week high in the previous session. Prices rose earlier this week after the US Department of Agriculture surprised investors with its forecast for the second lowest US winter wheat plantings since 1913. However, USDA also said Russia this year will overtake the United States as the world's top wheat exporter for the first time in the agency's records going back to 1960.
Chicago wheat also failed to surpass the session highs reached early on Tuesday, sparking a wave of technical selling. The market remained volatile, and prone to possible short covering, as regulatory data showed speculative investors with a record net short, or bearish, position. CBOT soyabeans for March delivery touched a one-month high after the release at mid-morning of USDA's weekly export sales showing soyabean sales of 1.3 million tonnes last week, the largest volumes in three weeks, largely to top importer China. But soya prices eased after hitting resistance at their 100-day moving average. CBOT March soya was down 2-1/4 cents at $8.77-3/4 per bushel while CBOT March corn edged 1/4 cent lower to $3.57-3/4.

Copyright Reuters, 2016

Comments

Comments are closed.