ANL 33.14 Increased By ▲ 0.39 (1.19%)
ASC 14.65 Increased By ▲ 0.27 (1.88%)
ASL 25.40 Decreased By ▼ -0.10 (-0.39%)
AVN 95.45 Decreased By ▼ -0.25 (-0.26%)
BOP 9.18 Increased By ▲ 0.03 (0.33%)
BYCO 10.02 Increased By ▲ 0.04 (0.4%)
DGKC 135.75 Increased By ▲ 0.45 (0.33%)
EPCL 51.30 Increased By ▲ 0.05 (0.1%)
FCCL 24.85 Increased By ▲ 0.16 (0.65%)
FFBL 25.01 Increased By ▲ 0.51 (2.08%)
FFL 15.59 Increased By ▲ 0.17 (1.1%)
HASCOL 10.79 Increased By ▲ 0.07 (0.65%)
HUBC 87.40 Increased By ▲ 0.66 (0.76%)
HUMNL 7.15 Increased By ▲ 0.05 (0.7%)
JSCL 26.73 Increased By ▲ 0.14 (0.53%)
KAPCO 39.20 No Change ▼ 0.00 (0%)
KEL 4.12 Increased By ▲ 0.01 (0.24%)
LOTCHEM 14.85 Increased By ▲ 0.13 (0.88%)
MLCF 46.84 No Change ▼ 0.00 (0%)
PAEL 38.10 Increased By ▲ 1.00 (2.7%)
PIBTL 11.92 Increased By ▲ 0.09 (0.76%)
POWER 10.51 Increased By ▲ 0.01 (0.1%)
PPL 90.85 Decreased By ▼ -0.65 (-0.71%)
PRL 27.31 Increased By ▲ 1.49 (5.77%)
PTC 8.93 Increased By ▲ 0.03 (0.34%)
SILK 1.43 Increased By ▲ 0.03 (2.14%)
SNGP 43.55 Increased By ▲ 2.48 (6.04%)
TRG 147.39 Decreased By ▼ -0.31 (-0.21%)
UNITY 30.45 Decreased By ▼ -0.03 (-0.1%)
WTL 1.52 Decreased By ▼ -0.02 (-1.3%)
BR100 5,000 Increased By ▲ 14.67 (0.29%)
BR30 25,954 Increased By ▲ 121.12 (0.47%)
KSE100 46,077 Increased By ▲ 112.32 (0.24%)
KSE30 19,270 Increased By ▲ 34.09 (0.18%)

PARIS: Euronext wheat extended a rally on Tuesday to a new two-week peak, supported again by the risk of frost damage to US wheat and the prospect of fresh export sales for French wheat in an Algerian tender.

Front-month March milling wheat on the Paris-based Euronext exchange was up 2.00 euros, or 0.9%, at 230.50 euros ($279.07) a tonne by 1553 GMT.

It earlier rose to 231.25 euros, its highest since Jan. 28.

A rally in Chicago futures, as US markets resumed trading after a holiday closure on Monday, kept the focus on severe cold in the United States that was threatening some wheat crops.

“It makes sense to see the market adding a bit of risk premium,” a futures dealer said of the US freeze.

Traders in Europe continued to take a relaxed view on the impact on crops of a cold spell last week, with the main drawback seen as logistical snags due to frozen canals.

With warmer weather setting in this week in western Europe, attention was turning to the pending results of a wheat tender by Algeria.

Algeria, the main export market for European Union wheat, was holding a tender on Tuesday. The tender specified shipment to two Algerian ports, which should favour smaller cargoes from the EU, according to traders.

“EU wheat is looking in a good position to win any purchase made in Algeria’s wheat tender closing today, so the downside is limited,” a German trader said.

Wheat supplies in the EU have been tightening after brisk exports in recent months and a smaller harvest last year.