AVN 60.29 Increased By ▲ 0.14 (0.23%)
BOP 10.16 Increased By ▲ 0.05 (0.49%)
CHCC 129.15 Decreased By ▼ -0.91 (-0.7%)
DCL 9.35 Decreased By ▼ -0.21 (-2.2%)
DGKC 105.67 Increased By ▲ 0.13 (0.12%)
EFERT 68.20 Increased By ▲ 0.50 (0.74%)
EPCL 30.52 Decreased By ▼ -0.13 (-0.42%)
FCCL 21.28 Decreased By ▼ -0.04 (-0.19%)
FFL 13.14 Decreased By ▼ -0.15 (-1.13%)
HASCOL 15.83 Increased By ▲ 1.46 (10.16%)
HBL 128.00 Increased By ▲ 2.65 (2.11%)
HUBC 86.74 Increased By ▲ 6.59 (8.22%)
HUMNL 9.37 Increased By ▲ 0.57 (6.48%)
JSCL 16.98 Decreased By ▼ -0.22 (-1.28%)
KAPCO 27.78 Increased By ▲ 2.38 (9.37%)
KEL 3.85 Increased By ▲ 0.09 (2.39%)
LOTCHEM 12.90 Decreased By ▼ -0.05 (-0.39%)
MLCF 35.62 Increased By ▲ 0.17 (0.48%)
OGDC 114.71 Increased By ▲ 2.06 (1.83%)
PAEL 35.15 Increased By ▲ 0.50 (1.44%)
PIBTL 12.15 Increased By ▲ 0.26 (2.19%)
PIOC 87.90 Increased By ▲ 0.79 (0.91%)
POWER 8.90 Decreased By ▼ -0.46 (-4.91%)
PPL 101.76 Increased By ▲ 2.26 (2.27%)
PSO 187.60 Increased By ▲ 4.90 (2.68%)
SNGP 57.10 Increased By ▲ 2.10 (3.82%)
STPL 11.82 Decreased By ▼ -0.08 (-0.67%)
TRG 49.02 Decreased By ▼ -1.28 (-2.54%)
UNITY 13.24 Decreased By ▼ -0.21 (-1.56%)
WTL 1.32 Decreased By ▼ -0.04 (-2.94%)
BR100 4,230 Increased By ▲ 84 (2.02%)
BR30 21,819 Increased By ▲ 626 (2.96%)
KSE100 40,559 Increased By ▲ 644 (1.61%)
KSE30 17,607 Increased By ▲ 345 (2%)
COVID-19 TOTAL DAILY
CASES 285,191 531
DEATHS 6,112 15
Sindh 124,127 Cases
Punjab 94,586 Cases
Balochistan 11,921 Cases
Islamabad 15,281 Cases
KP 34,755 Cases

PARIS/SINGAPORE: Chicago corn futures were steady on Thursday, holding near a 3-1/2 month high as hot weather and a smaller than expected plantings estimate raised doubts about harvest prospects.

Soybeans stayed firm and reached a new four-month high, also supported by a lower than anticipated acreage estimate in the US Department of Agriculture's closely watched planting report this week, as well as investor optimism about economic recovery from the coronavirus crisis.

Wheat was little changed as traders sought a clearer picture of northern hemisphere harvesting.

Grain markets were also awaiting weekly US export sales data for a demand update.

The Chicago Board of Trade most-active corn contract was up 0.2% at $3.61-1/4 a bushel, as of 1204 GMT.

It earlier equalled Wednesday's 3-1/2 month high of $3.63, with analysts saying the market remained burdened with large supplies after the coronavirus epidemic hurt demand.

"Lower-than-expected planting supported corn prices but the key challenge for corn is demand destruction," said Phin Ziebell, agribusiness economist at National Australia Bank in Melbourne.

Corn has been particularly affected by a drop in consumption of corn-based biofuel ethanol amid a broad plunge in energy markets as the pandemic developed earlier this year.

The US Department of Agriculture (USDA) estimated farmers planted 92 million acres of corn this spring, lower than the USDA's March forecast of 97 million acres, the biggest March-to-June drop since 1983.

CBOT soybeans added 0.3% to $9.01-1/2 a bushel after edging up to a new high since early March at $9.03.

Wheat fell 0.3% to $4.97-1/2 a bushel.

Hot, dry weather forecasts across the US Midwest have also elevated concerns about crop stress as US corn and soybeans move into key summer growth stages.