AVN 67.70 Decreased By ▼ -0.78 (-1.14%)
BOP 9.24 Decreased By ▼ -0.11 (-1.18%)
CHCC 138.00 Decreased By ▼ -5.10 (-3.56%)
DCL 10.58 Decreased By ▼ -0.32 (-2.94%)
DGKC 112.60 Decreased By ▼ -1.65 (-1.44%)
EFERT 64.80 Increased By ▲ 0.08 (0.12%)
EPCL 43.75 Decreased By ▼ -0.65 (-1.46%)
FCCL 21.26 Decreased By ▼ -0.92 (-4.15%)
FFL 15.81 Decreased By ▼ -0.38 (-2.35%)
HASCOL 15.70 Decreased By ▼ -0.09 (-0.57%)
HBL 135.00 Increased By ▲ 0.09 (0.07%)
HUBC 84.20 Increased By ▲ 4.32 (5.41%)
HUMNL 7.91 Decreased By ▼ -0.29 (-3.54%)
JSCL 26.10 Decreased By ▼ -0.44 (-1.66%)
KAPCO 29.14 Increased By ▲ 0.64 (2.25%)
KEL 3.83 Decreased By ▼ -0.02 (-0.52%)
LOTCHEM 11.99 Decreased By ▼ -0.17 (-1.4%)
MLCF 42.31 Decreased By ▼ -1.26 (-2.89%)
OGDC 96.35 Decreased By ▼ -0.91 (-0.94%)
PAEL 34.40 Decreased By ▼ -1.72 (-4.76%)
PIBTL 13.34 Increased By ▲ 0.26 (1.99%)
PIOC 99.00 Decreased By ▼ -4.70 (-4.53%)
POWER 10.07 Decreased By ▼ -0.32 (-3.08%)
PPL 85.96 Decreased By ▼ -0.45 (-0.52%)
PSO 206.89 Decreased By ▼ -0.79 (-0.38%)
SNGP 59.54 Decreased By ▼ -0.66 (-1.1%)
STPL 13.20 Increased By ▲ 0.12 (0.92%)
TRG 49.73 Decreased By ▼ -1.43 (-2.8%)
UNITY 22.24 Decreased By ▼ -0.49 (-2.16%)
WTL 1.07 Decreased By ▼ -0.02 (-1.83%)
BR100 4,289 Decreased By ▼ -21.55 (-0.5%)
BR30 21,878 Increased By ▲ 69.16 (0.32%)
KSE100 41,187 Decreased By ▼ -194.97 (-0.47%)
KSE30 17,297 Decreased By ▼ -80.48 (-0.46%)
COVID-19 TOTAL DAILY

European wheat futures climbed to a three-week high on Tuesday, supported by a rise in US futures, while continued weakness in the euro boosted export prospects for western European supplies. Front-month March milling wheat on the Paris-based Euronext exchange was up 1.75 euros, or 0.9%, at 195.75 euros ($211.61) a tonne at 1722 GMT, after earlier reaching its highest since January 24 at 196.50 euros.
A further cut to the official estimate of Australia's drought-hit harvest supported US and European wheat futures by underlining reduced world export competition this season, traders said, even though the cut had been expected. Dealers said Monday's expiry of options on March futures in Paris again fuelled movements on Euronext.
"There has been a lot of technical trading again today on Matif (Euronext)," one futures dealer said. "Chicago and the euro-dollar rate are major factors too." The euro slipped to another near three-year low against the dollar, helping the export competitiveness of western European grain in the face of easing Russian prices.
A large programme of loadings at French ports was also illustrating brisk sales to key North markets like Algeria and Morocco. In Germany, cash premiums in Hamburg were cut as sellers declined to follow rises in Paris. Standard bread wheat with 12% protein for March delivery in Hamburg was offered for sale at 4.0 euros over the Paris March contract against 5.0 euros over on Monday. Buyers were offering up to 3.0 euros over Paris.
"International wheat prices today were generally stronger because of the latest estimate of a bad Australian crop, but this has been known and priced into markets for some time," one German trader said.

Copyright Reuters, 2020