AGL 5.41 Decreased By ▼ -0.09 (-1.64%)
ANL 8.71 Increased By ▲ 0.02 (0.23%)
AVN 76.16 Increased By ▲ 0.32 (0.42%)
BOP 5.17 Decreased By ▼ -0.01 (-0.19%)
CNERGY 4.47 Decreased By ▼ -0.04 (-0.89%)
EFERT 81.21 Increased By ▲ 0.12 (0.15%)
EPCL 49.17 Decreased By ▼ -0.83 (-1.66%)
FCCL 12.69 Increased By ▲ 0.16 (1.28%)
FFL 5.59 Increased By ▲ 0.07 (1.27%)
FLYNG 6.98 Increased By ▲ 0.03 (0.43%)
FNEL 4.63 Decreased By ▼ -0.02 (-0.43%)
GGGL 8.59 Increased By ▲ 0.01 (0.12%)
GGL 14.06 Decreased By ▼ -0.19 (-1.33%)
HUMNL 5.49 Decreased By ▼ -0.10 (-1.79%)
KEL 2.60 Increased By ▲ 0.06 (2.36%)
LOTCHEM 27.75 Decreased By ▼ -0.23 (-0.82%)
MLCF 23.56 Decreased By ▼ -0.14 (-0.59%)
OGDC 71.45 Decreased By ▼ -0.19 (-0.27%)
PAEL 15.23 Increased By ▲ 0.14 (0.93%)
PIBTL 4.90 Increased By ▲ 0.01 (0.2%)
PRL 15.75 Decreased By ▼ -0.06 (-0.38%)
SILK 1.05 Decreased By ▼ -0.02 (-1.87%)
TELE 9.00 Increased By ▲ 0.06 (0.67%)
TPL 7.16 Increased By ▲ 0.13 (1.85%)
TPLP 19.14 Increased By ▲ 0.83 (4.53%)
TREET 20.99 Decreased By ▼ -0.04 (-0.19%)
TRG 136.92 Increased By ▲ 2.37 (1.76%)
UNITY 16.74 Increased By ▲ 0.11 (0.66%)
WAVES 9.10 Decreased By ▼ -0.22 (-2.36%)
WTL 1.37 Increased By ▲ 0.01 (0.74%)
BR100 4,155 Increased By 0.1 (0%)
BR30 15,335 Increased By 46.6 (0.3%)
KSE100 41,540 Decreased By -72.7 (-0.17%)
KSE30 15,365 Increased By 5 (0.03%)
Follow us

CHICAGO: Chicago soyabeans, corn and wheat eased on Friday as the markets consolidated after earlier gains, pressured by a continuing American harvest and limited exports at hurricane-damaged US Gulf export terminals.

The most-active soyabean futures on the Chicago Board of Trade fell 12 cents to $12.84 a bushel, ending the week down 2-1/2 cents, despite gains earlier in the week.

CBOT corn futures settled 2-1/4 cents lower at $5.27-1/4 a bushel, though it ended the week 1.93% higher, its first positive week since Aug. 27.

CBOT wheat futures ended 4-1/4 cents lower at $7.08-3/4 a bushel, though it added 20-1/4 cents for the week, a 2.9% climb.

Soyabeans led the complex lower, as favourable weather indicates strong harvest progress through the weekend, while exports remain capped by terminals on the US Gulf Coast that continue to struggle with power outages and hurricane damage as the country heads into its busiest export season.

“The export picture is not favourable right now, until we get those exports at the Gulf moving up,” said Mike Zuzolo, president of Global Commodity Analytics. “It’s a very crucial two weeks, because it’s our prime selling.”

Wheat offered support, unaffected by harvest pressure, though Australia’s second consecutive bumper crop nears harvest, which could ease tight global supplies.

Attention shifted to supply risks this week after a lower-than-expected official estimate of Canada’s drought-affected harvest, as well as reduced estimates of French and European Union crops and expectations for a fall in winter wheat sowings in Russia.

“We’ve already seen considerable strength,” said Arlan Suderman, chief commodities economist at StoneX. “Wheat is taking the opportunity to do a little profit-taking of its own.”

Corn losses were limited as harvest yields in parts of the Eastern corn belt have lagged expectation, Suderman added.

“That was the region we were counting on to make up for losses in the Northwestern belt, where drought was a problem this summer,” he said. “Yields have been coming in a little below expectations.

Comments

Comments are closed.

Wheat, corn, soya consolidate after earlier gains

Perishables worth $5.5mn stuck at Karachi port 'owing to dollar shortage'

FIR registered in Arshad Sharif’s murder on Supreme Court’s order

Fight against terrorism to continue till establishment of enduring peace, stability: Gen Asim Munir

Rupee remains under pressure, settles at 224.11 against US dollar

Sanaullah urges PTI leaders to use parliament for discussion on next general elections

Morocco dump Spain out on penalties to reach historic World Cup quarters

Unity Foods to invest nearly Rs2bn in Sunridge Foods subsidiary

CDA decides to de-seal Centaurus Mall

Ukraine slams India for buying Russian oil

Oil prices fall on economic fears, dollar strength