AIRLINK 78.55 Decreased By ▼ -0.06 (-0.08%)
BOP 4.77 Increased By ▲ 0.12 (2.58%)
CNERGY 4.16 Increased By ▲ 0.13 (3.23%)
DFML 39.29 Increased By ▲ 2.81 (7.7%)
DGKC 95.65 Increased By ▲ 7.40 (8.39%)
FCCL 24.16 Increased By ▲ 1.87 (8.39%)
FFBL 32.77 Increased By ▲ 2.62 (8.69%)
FFL 9.37 Increased By ▲ 0.19 (2.07%)
GGL 10.15 Increased By ▲ 0.23 (2.32%)
HASCOL 6.54 Increased By ▲ 0.43 (7.04%)
HBL 109.50 Increased By ▲ 4.50 (4.29%)
HUBC 145.01 Increased By ▲ 7.51 (5.46%)
HUMNL 10.73 Increased By ▲ 0.08 (0.75%)
KEL 4.73 Increased By ▲ 0.09 (1.94%)
KOSM 4.26 Increased By ▲ 0.26 (6.5%)
MLCF 39.40 Increased By ▲ 2.27 (6.11%)
OGDC 129.25 Increased By ▲ 10.06 (8.44%)
PAEL 25.87 Increased By ▲ 1.89 (7.88%)
PIBTL 6.34 Increased By ▲ 0.27 (4.45%)
PPL 122.70 Increased By ▲ 8.65 (7.58%)
PRL 24.35 Increased By ▲ 1.18 (5.09%)
PTC 12.99 Increased By ▲ 0.79 (6.48%)
SEARL 61.18 Increased By ▲ 2.13 (3.61%)
SNGP 65.20 Increased By ▲ 3.22 (5.2%)
SSGC 9.89 Increased By ▲ 0.13 (1.33%)
TELE 7.86 Increased By ▲ 0.19 (2.48%)
TPLP 9.85 Increased By ▲ 0.37 (3.9%)
TRG 64.50 Increased By ▲ 0.78 (1.22%)
UNITY 26.99 Increased By ▲ 0.14 (0.52%)
WTL 1.32 Increased By ▲ 0.02 (1.54%)
BR100 7,989 Increased By 410.8 (5.42%)
BR30 25,633 Increased By 1415.1 (5.84%)
KSE100 76,208 Increased By 3410.7 (4.69%)
KSE30 24,438 Increased By 1225 (5.28%)
Markets

Soybeans down for 2nd session on improved Argentine weather

  • Wheat futures are under pressure from expectations of higher production in the world's top exporter Russia.
Published March 18, 2021

SINGAPORE: Chicago soybeans slid for a second session on Thursday as rains in parts of parched Argentina boosted hopes of supplies from the world's biggest exporter of soyoil and soymeal. Corn slid after closing higher while wheat lost more ground.

FUNDAMENTALS

  • The most-active soybean contract on the Chicago Board of Trade (CBOT) lost 0.2% to $14.16 a bushel as of 0012 GMT.
  • Corn gave up 0.3% to $5.56-1/2 a bushel and wheat lost 0.4% to $6.37-3/4 a bushel.

  • Rain storms this week in Argentina's Pampas farm belt have slowed the deterioration of many drought-hit soybean and corn fields, crop weather specialists said on Wednesday.

  • Dryness has blighted Pampas since mid-2020, prompting the Buenos Aires Grains Exchange last week to cut its soy and corn harvest estimates. Soy and corn are Argentina's main cash crops.

  • Wheat futures are under pressure from expectations of higher production in the world's top exporter Russia.

  • Russian Sovecon agriculture consultancy said on Wednesday that it had raised its forecast for Russia's 2021 wheat crop to 79.3 million tonnes from the previously expected 76.2 million tonnes.

  • The USDA has confirmed 2.38 million tonnes in US old-crop corn sales to China over the past two days. The department is due to release weekly export sales data early on Thursday.

Comments

Comments are closed.