AGL 38.20 Decreased By ▼ -1.38 (-3.49%)
AIRLINK 127.10 Decreased By ▼ -4.12 (-3.14%)
BOP 6.90 Increased By ▲ 0.09 (1.32%)
CNERGY 4.45 Decreased By ▼ -0.26 (-5.52%)
DCL 8.00 Decreased By ▼ -0.44 (-5.21%)
DFML 37.79 Decreased By ▼ -3.68 (-8.87%)
DGKC 77.80 Decreased By ▼ -4.29 (-5.23%)
FCCL 31.20 Decreased By ▼ -1.90 (-5.74%)
FFBL 70.03 Decreased By ▼ -2.84 (-3.9%)
FFL 11.99 Decreased By ▼ -0.27 (-2.2%)
HUBC 106.17 Decreased By ▼ -4.57 (-4.13%)
HUMNL 13.65 Decreased By ▼ -0.86 (-5.93%)
KEL 4.76 Decreased By ▼ -0.43 (-8.29%)
KOSM 7.23 Decreased By ▼ -0.38 (-4.99%)
MLCF 37.00 Decreased By ▼ -1.90 (-4.88%)
NBP 68.19 Increased By ▲ 4.18 (6.53%)
OGDC 182.50 Decreased By ▼ -10.32 (-5.35%)
PAEL 24.40 Decreased By ▼ -1.28 (-4.98%)
PIBTL 7.19 Decreased By ▼ -0.15 (-2.04%)
PPL 144.35 Decreased By ▼ -9.72 (-6.31%)
PRL 24.58 Decreased By ▼ -1.25 (-4.84%)
PTC 16.60 Decreased By ▼ -1.21 (-6.79%)
SEARL 78.50 Decreased By ▼ -3.80 (-4.62%)
TELE 7.31 Decreased By ▼ -0.45 (-5.8%)
TOMCL 32.34 Decreased By ▼ -1.12 (-3.35%)
TPLP 8.13 Decreased By ▼ -0.36 (-4.24%)
TREET 16.50 Decreased By ▼ -0.12 (-0.72%)
TRG 54.75 Decreased By ▼ -2.65 (-4.62%)
UNITY 27.64 Increased By ▲ 0.13 (0.47%)
WTL 1.32 Decreased By ▼ -0.05 (-3.65%)
BR100 10,204 Decreased By -300.9 (-2.86%)
BR30 29,965 Decreased By -1261.1 (-4.04%)
KSE100 95,355 Decreased By -2725.1 (-2.78%)
KSE30 29,699 Decreased By -860.1 (-2.81%)

Benchmark European wheat futures edged lower on Tuesday to set a new contract low, as fresh gains for the euro underlined a tough export context and offset support from a weather-driven rally in Chicago. March milling wheat, the most active contract on Paris-based Euronext, settled 0.50 euro, or 0.3 percent, lower at 158.50 euros a tonne.
It earlier fell to 158.25 euros, a new life-of-contract low and the weakest spot price in three weeks. Spot Euronext futures fell 5 percent in 2017, marking their fifth straight annual loss, as hefty global supplies and a rising euro pressured the western European market.
A four-month high for the euro against the dollar at close to $1.21 maintained negative export sentiment on Tuesday as trading resumed following Monday's New Year holiday closure. "The euro was the bad news of the day," one futures dealer said. "It's still hard to see where the export demand is going to come from."
A rise for Chicago wheat, which added more than 1 percent with support from worries about cold weather risks to US crops, helped further-away delivery positions on Euronext to erase their losses in afternoon trading. However, short-term export worries kept spot futures under pressure, while there was also talk of farmer selling, dealers said. In monthly supply and demand data, the European Commission cut its outlook for European Union common wheat exports this season by 1 million tonnes to 26 million, a bigger reduction than the 0.5 million trimmed from its EU wheat production estimate.

Copyright Reuters, 2018

Comments

Comments are closed.