ANL 20.85 Decreased By ▼ -1.48 (-6.63%)
ASC 13.54 Decreased By ▼ -1.06 (-7.26%)
ASL 23.00 Decreased By ▼ -0.65 (-2.75%)
BOP 8.20 Decreased By ▼ -0.08 (-0.97%)
BYCO 7.81 Decreased By ▼ -0.34 (-4.17%)
FCCL 17.80 Decreased By ▼ -0.17 (-0.95%)
FFBL 22.75 Decreased By ▼ -0.73 (-3.11%)
FFL 15.50 Decreased By ▼ -0.60 (-3.73%)
FNEL 7.35 Decreased By ▼ -0.62 (-7.78%)
GGGL 17.83 Decreased By ▼ -1.57 (-8.09%)
GGL 40.01 Decreased By ▼ -1.73 (-4.14%)
HUMNL 6.02 Decreased By ▼ -0.32 (-5.05%)
JSCL 18.30 Decreased By ▼ -1.07 (-5.52%)
KAPCO 36.35 Decreased By ▼ -0.83 (-2.23%)
KEL 3.40 Decreased By ▼ -0.08 (-2.3%)
MDTL 2.65 Decreased By ▼ -0.05 (-1.85%)
MLCF 35.10 Increased By ▲ 0.11 (0.31%)
NETSOL 129.40 Decreased By ▼ -9.90 (-7.11%)
PACE 4.75 Decreased By ▼ -0.37 (-7.23%)
PAEL 27.00 Decreased By ▼ -1.35 (-4.76%)
PIBTL 8.85 Decreased By ▼ -0.05 (-0.56%)
POWER 7.45 Increased By ▲ 0.15 (2.05%)
PRL 17.15 Decreased By ▼ -1.15 (-6.28%)
PTC 10.01 Increased By ▲ 0.01 (0.1%)
SILK 1.50 Decreased By ▼ -0.01 (-0.66%)
SNGP 45.00 Decreased By ▼ -0.30 (-0.66%)
TELE 18.89 Decreased By ▼ -1.52 (-7.45%)
TRG 162.70 Decreased By ▼ -6.80 (-4.01%)
UNITY 32.95 Decreased By ▼ -0.10 (-0.3%)
WTL 2.94 Decreased By ▼ -0.02 (-0.68%)
BR100 4,733 Decreased By ▼ -88.48 (-1.84%)
BR30 22,802 Decreased By ▼ -674.49 (-2.87%)
KSE100 45,297 Decreased By ▼ -300.36 (-0.66%)
KSE30 17,811 Decreased By ▼ -218.45 (-1.21%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,432
5824hr
Pakistan Cases
1,232,595
2,35724hr
4.9% positivity
Sindh
453,051
Punjab
425,703
Balochistan
32,812
Islamabad
104,619
KPK
172,210

NEW YORK: ICE cotton futures fell by over 1% on Wednesday, tracking a retreat in core grains markets from multi-year highs, with focus turning to a weekly export sales report.

Cotton contracts for July were down 1.34 cents, or 1.5%, to 90.08 cents per lb by 12:22 EDT (1622 GMT). Prices touched their highest since March 1 on Tuesday.

“US corn, soybeans, and wheat had a huge correction yesterday and into last night,” and said Keith Brown, principal at cotton brokers Keith Brown and Co in Georgia.

Further, unexpected deliveries received against the May cotton contract amid the current perceived strength in demand was a negative, Brown added.

Prices of key grains fell on Wednesday, retreating from eight-year highs struck a day earlier as the market assessed the extent of weather risks that had fanned the recent run-up in prices.

They had already ended lower on Tuesday as the rally lost momentum following the intraday peaks.

Market participants await a weekly export sales report from the US Department of Agriculture on Thursday.

“As long as we do 100,000 bales, we’re going to be in good shape,” Brown said.

Comments

Comments are closed.