AVN 67.44 Increased By ▲ 0.22 (0.33%)
BOP 9.94 No Change ▼ 0.00 (0%)
CHCC 130.51 Increased By ▲ 1.01 (0.78%)
DCL 11.30 Increased By ▲ 0.09 (0.8%)
DGKC 111.52 Increased By ▲ 0.20 (0.18%)
EFERT 60.90 Increased By ▲ 0.16 (0.26%)
EPCL 43.85 Increased By ▲ 0.35 (0.8%)
FCCL 21.58 Decreased By ▼ -0.02 (-0.09%)
FFL 18.68 Increased By ▲ 0.03 (0.16%)
HASCOL 22.29 Increased By ▲ 0.50 (2.29%)
HBL 134.40 Increased By ▲ 0.65 (0.49%)
HUBC 84.50 Increased By ▲ 0.32 (0.38%)
HUMNL 8.64 Increased By ▲ 0.11 (1.29%)
JSCL 29.17 Increased By ▲ 0.44 (1.53%)
KAPCO 28.48 Increased By ▲ 0.28 (0.99%)
KEL 4.25 No Change ▼ 0.00 (0%)
LOTCHEM 13.46 Increased By ▲ 0.07 (0.52%)
MLCF 39.74 Increased By ▲ 0.21 (0.53%)
OGDC 110.09 Increased By ▲ 0.28 (0.25%)
PAEL 38.01 Increased By ▲ 0.14 (0.37%)
PIBTL 14.20 Increased By ▲ 0.01 (0.07%)
PIOC 96.32 Increased By ▲ 0.22 (0.23%)
POWER 9.53 Increased By ▲ 0.05 (0.53%)
PPL 98.89 Increased By ▲ 0.21 (0.21%)
PSO 206.50 Increased By ▲ 0.73 (0.35%)
SNGP 64.15 No Change ▼ 0.00 (0%)
STPL 13.30 No Change ▼ 0.00 (0%)
TRG 57.66 Decreased By ▼ -0.02 (-0.03%)
UNITY 17.99 Increased By ▲ 0.21 (1.18%)
WTL 1.29 No Change ▼ 0.00 (0%)
BR100 4,439 Increased By ▲ 19.42 (0.44%)
BR30 22,677 Increased By ▲ 64.82 (0.29%)
KSE100 42,505 Increased By ▲ 170 (0.4%)
KSE30 18,046 Increased By ▲ 102.45 (0.57%)
COVID-19 TOTAL DAILY
CASES 288,047 747
DEATHS 6,162 9
Markets

Soybeans steady as market eyes harvest, export news

  • Soybeans steady after pullback on weak US crush level.
  • Market eyes corn, soy harvest results, further China sales.
  • Corn, wheat inch down.
16 Sep 2020

PARIS/SINGAPORE: Chicago soybean futures edged higher on Wednesday, steadying after a day-ealier drop as traders awaited US harvest results and signs of further Chinese demand.

Soybeans had rallied in the past week above $10 for the first time in two years before seeing profit-taking on Tuesday fuelled by a lower than expected US soybean crushing estimate for August.

Corn was almost unchanged, consolidating after a six-month high earlier this week as traders mostly waited for US harvesting to gather pace.

Wheat edged lower.

"Grain Markets were mixed overnight as traders pause to catch their breath from the recent significant rally," brokerage Allendale said in a note.

The most-active soybean contract on the Chicago Board of Trade was up 0.6% at $9.97-3/4 a bushel by the end of overnight trading.

CBOT corn was down 0.1% at $3.65-1/2 a bushel and wheat down 0.5% at $5.35-1/2.

Dry weather expected in the Midwest is likely to help jump-start the harvest of large US corn and soybean crops.

Soybeans hit a June 2018 high above $10 on Monday, underpinned by strong Chinese demand.

The US Department of Agriculture (USDA) on Wednesday reported sales of 327,000 tonnes of US soybeans to China.

In the wheat market, a French exporters group said Algeria had decided to change its import tender terms to enable Black Sea origins like Russian wheat to be offered.

Comments are closed on this story.