AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)

CHICAGO: Chicago Board of Trade soyabean futures closed higher on Friday on short-covering after this week’s two-month lows and ahead of a long US holiday weekend, while reminders of fresh export business lent support, traders said.

CBOT November soyabeans settled up 8-3/4 cents at $12.92 per bushel, rallying after a dip on Wednesday to $12.70, the contract’s lowest since June 28.

However, for the week, the contract fell 31-1/4 cents per bushel or 2.4%. CBOT December soyaoil settled up 0.21 cent at 59.00 cents per pound, while December soyameal finished up $1 at $341.00 per short ton.

The US Department of Agriculture confirmed private sales of 130,000 tonnes of US soyabeans to China.

Private analytics firm IHS Markit Agribusiness lowered its estimate of the US 2021 soyabean yield to 50.0 bushels per acre, from 51.5 last month, and lowered its production estimate to 4.358 billion bushels, from 4.464 billion previously.

Firm Brazilian cash soya markets lent support. Brazilian farmers have been tight holders of old-crop supplies and have pre-sold only about a quarter of the 2021/22 crop they are about to plant, roughly half of sales commitments made at this time last year, agribusiness consultancy Safras & Mercado said.

CBOT wheat

Chicago Board of Trade wheat futures closed higher on Friday on bargain buying a day after a dip to one-month lows, along with brisk global export demand, traders said.

CBOT December soft red winter wheat settled up 9-1/4 cents at $7.26-1/4 per bushel.

Traders noted follow-though technical buying on Friday after the CBOT December contract bounced from a one-month low and closed higher on Thursday, a bullish chart signal.

KC December hard red winter wheat ended up 14 cents at $7.23 a bushel and MGEX December spring wheat rose 13 cents to finish at $9.12-1/2.

A softer dollar lent support, making US grains more attractive on the world market. The dollar fell for a fourth straight day after a weaker-than-expected US payrolls report.

Euronext wheat futures were little changed as traders looked ahead to US crop estimates next week while assessing export prospects for a rain-affected European wheat harvest.

Most of this year’s rain-affected French soft wheat crop was failing to meet a usual milling standard, initial quality results published by farm office FranceAgriMer showed.

CBOT corn

Chicago Board of Trade corn futures ended lower on Friday in range-bound trade, anchored by seasonal pressure from the approaching US harvest and lingering worries about hurricane damage stalling exports from the US Gulf Coast, traders said.

CBOT December corn settled down 1-1/2 cents at $5.24 per bushel, staying inside of Thursday’s trading range.

For the week, the contract fell 29-3/4 cents a bushel or 5.4%.

Traders await direction from the US Department of Agriculture’s monthly supply/demand reports on Sept. 10, which will include updated estimates of US 2021/22 corn production.

Private analytics firm IHS Markit Agribusiness lowered its forecast of the average US 2021 corn yield to 175.4 bushels per acre, from 176.5 a month ago, but the firm raised its forecast of US corn production to 15.091 billion bushels, from 14.911 billion previously.

A softer dollar helped underpin values by making US grains more attractive on the world market. The dollar fell for a fourth straight day after a much weaker-than-expected US payrolls report.

US markets and government offices will be closed on Monday for the Labor Day holiday.

Comments

Comments are closed.