AGL 40.05 Increased By ▲ 0.05 (0.13%)
AIRLINK 132.59 Increased By ▲ 3.06 (2.36%)
BOP 6.90 Increased By ▲ 0.22 (3.29%)
CNERGY 4.60 Decreased By ▼ -0.03 (-0.65%)
DCL 8.90 Decreased By ▼ -0.04 (-0.45%)
DFML 42.80 Increased By ▲ 1.11 (2.66%)
DGKC 84.50 Increased By ▲ 0.73 (0.87%)
FCCL 32.85 Increased By ▲ 0.08 (0.24%)
FFBL 76.85 Increased By ▲ 1.38 (1.83%)
FFL 12.14 Increased By ▲ 0.67 (5.84%)
HUBC 110.00 Decreased By ▼ -0.55 (-0.5%)
HUMNL 14.45 Decreased By ▼ -0.11 (-0.76%)
KEL 5.54 Increased By ▲ 0.15 (2.78%)
KOSM 8.33 Decreased By ▼ -0.07 (-0.83%)
MLCF 39.80 Increased By ▲ 0.01 (0.03%)
NBP 66.22 Increased By ▲ 5.93 (9.84%)
OGDC 199.00 Decreased By ▼ -0.66 (-0.33%)
PAEL 26.31 Decreased By ▼ -0.34 (-1.28%)
PIBTL 7.63 Decreased By ▼ -0.03 (-0.39%)
PPL 159.00 Increased By ▲ 1.08 (0.68%)
PRL 26.25 Decreased By ▼ -0.48 (-1.8%)
PTC 18.60 Increased By ▲ 0.14 (0.76%)
SEARL 81.85 Decreased By ▼ -0.59 (-0.72%)
TELE 8.10 Decreased By ▼ -0.21 (-2.53%)
TOMCL 34.40 Decreased By ▼ -0.11 (-0.32%)
TPLP 8.94 Decreased By ▼ -0.12 (-1.32%)
TREET 16.88 Decreased By ▼ -0.59 (-3.38%)
TRG 59.81 Decreased By ▼ -1.51 (-2.46%)
UNITY 27.65 Increased By ▲ 0.22 (0.8%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,613 Increased By 206 (1.98%)
BR30 31,863 Increased By 149.7 (0.47%)
KSE100 99,102 Increased By 1774 (1.82%)
KSE30 30,842 Increased By 649.1 (2.15%)

US soyabean and corn futures rose Tuesday on bargain hunting following Monday's sharp declines, and worries about wet forecasts slowing planting in portions of the northern Midwest, analysts said. US wheat futures were mixed, with Chicago Board of Trade soft red winter wheat futures rising while K.C. hard red winter wheat futures eased. As of 1:02 p.m. CDT (1802 GMT), CBOT July soyabeans were up 7-3/4 cents at $10.19-1/4 per bushel. July corn was up 1-1/2 cents at $4.02-1/4 a bushel. CBOT July wheat was up 2-3/4 cents at $5.14-1/4 a bushel while K.C. July wheat was down 1-1/4 cents at $5.38-1/4.
Soyabeans firmed a day after the July contract fell to $10.10-3/4, a one-month low, while July corn bounced after dipping below the $4 mark for the first time in a week. Planting weather remained a key issue. The US Department of Agriculture late Monday said that the US soyabean crop was 15 percent seeded, ahead of the five-year average of 14 percent. The corn crop was 39 percent planted, behind the five-year average of 44 percent.
However, progress lagged in key northern states such as Minnesota and North Dakota, and weather forecasts called for rains in that region this week that should stall field work. Traders were also adjusting positions ahead of the USDA's monthly supply/demand report on Thursday, which will include the government's first official forecasts for the 2018-19 crop year.
The average forecast of US 2018-19 corn ending stocks among analysts surveyed by Reuters was 1.628 billion bushels, compared with the USDA's latest projection of 2.182 billion bushels at the end of 2017-18. Wheat futures firmed on technical buying and short-covering, with the CBOT July contract turning higher after falling to a one-week low of $5.06-1/4.
Commodity funds hold a net short position in CBOT wheat, leaving the market prone to bouts of short-covering. The USDA late Monday rated 34 percent of the US winter wheat crop in good-to-excellent condition, up from 33 percent last week.

Copyright Reuters, 2018

Comments

Comments are closed.