ANL 29.15 Increased By ▲ 0.63 (2.21%)
ASC 16.50 Decreased By ▼ -0.18 (-1.08%)
ASL 25.15 Increased By ▲ 1.39 (5.85%)
AVN 99.18 Increased By ▲ 4.94 (5.24%)
BOP 9.51 Increased By ▲ 0.04 (0.42%)
BYCO 9.36 Decreased By ▼ -0.20 (-2.09%)
DGKC 112.10 Increased By ▲ 1.60 (1.45%)
EPCL 47.55 Increased By ▲ 0.10 (0.21%)
FCCL 21.50 Increased By ▲ 0.22 (1.03%)
FFBL 28.84 Increased By ▲ 0.87 (3.11%)
FFL 19.23 Decreased By ▼ -0.04 (-0.21%)
HASCOL 14.08 Decreased By ▼ -0.23 (-1.61%)
HUBC 86.75 Increased By ▲ 0.75 (0.87%)
HUMNL 7.25 Decreased By ▼ -0.05 (-0.68%)
JSCL 32.39 Increased By ▲ 0.92 (2.92%)
KAPCO 40.81 Increased By ▲ 0.08 (0.2%)
KEL 4.18 Increased By ▲ 0.07 (1.7%)
LOTCHEM 15.99 Decreased By ▼ -0.21 (-1.3%)
MLCF 43.90 Increased By ▲ 0.89 (2.07%)
PAEL 40.06 Increased By ▲ 0.20 (0.5%)
PIBTL 13.04 Increased By ▲ 0.13 (1.01%)
POWER 11.65 Increased By ▲ 0.25 (2.19%)
PPL 93.72 Increased By ▲ 0.42 (0.45%)
PRL 23.80 No Change ▼ 0.00 (0%)
PTC 9.37 Increased By ▲ 0.07 (0.75%)
SILK 1.22 Increased By ▲ 0.02 (1.67%)
SNGP 44.60 Increased By ▲ 0.27 (0.61%)
TRG 114.93 Increased By ▲ 6.45 (5.95%)
UNITY 33.68 Increased By ▲ 0.53 (1.6%)
WTL 1.09 Decreased By ▼ -0.03 (-2.68%)
BR100 4,945 Increased By ▲ 34.66 (0.71%)
BR30 25,610 Increased By ▲ 247.3 (0.98%)
KSE100 46,468 Increased By ▲ 180.63 (0.39%)
KSE30 19,342 Increased By ▲ 82.5 (0.43%)
Markets

CBOT wheat ends up on declining US crop ratings, technical buying

  • CBOT March soft red winter wheat settled up 13 cents at $6.17-1/2 per bushel.
  • The contract dipped below Monday's low but rallied to close above Monday's high, a bullish technical signal.
25 Nov 2020

CHICAGO: Chicago Board of Trade wheat futures closed higher on Tuesday on technical buying and a surprise decline in US winter wheat condition ratings that raised concerns about supplies of the food grain, traders said.

CBOT March soft red winter wheat settled up 13 cents at $6.17-1/2 per bushel.

The contract dipped below Monday's low but rallied to close above Monday's high, a bullish technical signal.

K.C. March hard red winter wheat ended up 10-1/4 cents at $5.70-3/4 a bushel and MGEX March spring wheat rose 8-1/4 cents to finish at $5.50-3/4 a bushel.

The US Department of Agriculture late on Monday rated 43% of the US winter wheat crop in good to excellent condition, down from 46% a week earlier, bucking analyst expectations for an improvement.

Additional support stemmed from a softer dollar, which tends to make US grains more competitive globally.

Traders were exiting long corn/short wheat spread positions ahead of first notice day for deliveries against CBOT December wheat and corn contracts on Monday, Nov. 30, analysts said.

A group of South Korean flour mills issued a tender to buy an estimated 80,600 tonnes of milling wheat to be sourced from the United States, European traders said.