AVN 67.71 Decreased By ▼ -0.77 (-1.12%)
BAFL 30.90 Decreased By ▼ -0.10 (-0.32%)
BOP 4.85 Decreased By ▼ -0.06 (-1.22%)
CNERGY 3.75 No Change ▼ 0.00 (0%)
DFML 14.02 Decreased By ▼ -0.21 (-1.48%)
DGKC 41.00 Decreased By ▼ -0.64 (-1.54%)
EPCL 47.20 Increased By ▲ 1.83 (4.03%)
FCCL 11.55 Decreased By ▼ -0.16 (-1.37%)
FFL 5.12 Increased By ▲ 0.02 (0.39%)
FLYNG 5.96 Increased By ▲ 0.11 (1.88%)
GGL 11.27 Increased By ▲ 0.86 (8.26%)
HUBC 67.70 Decreased By ▼ -0.80 (-1.17%)
HUMNL 5.75 No Change ▼ 0.00 (0%)
KAPCO 28.04 Decreased By ▼ -0.18 (-0.64%)
KEL 2.28 Increased By ▲ 0.02 (0.88%)
LOTCHEM 26.30 Increased By ▲ 1.20 (4.78%)
MLCF 21.60 Increased By ▲ 0.02 (0.09%)
NETSOL 86.40 Decreased By ▼ -1.95 (-2.21%)
OGDC 100.20 Increased By ▲ 0.90 (0.91%)
PAEL 11.10 Decreased By ▼ -0.01 (-0.09%)
PIBTL 4.20 Decreased By ▼ -0.03 (-0.71%)
PPL 80.20 Decreased By ▼ -2.25 (-2.73%)
PRL 13.24 Decreased By ▼ -0.10 (-0.75%)
SILK 0.90 No Change ▼ 0.00 (0%)
SNGP 43.90 Decreased By ▼ -0.48 (-1.08%)
TELE 6.08 Decreased By ▼ -0.10 (-1.62%)
TPLP 15.90 Increased By ▲ 0.09 (0.57%)
TRG 121.45 Increased By ▲ 1.70 (1.42%)
UNITY 13.98 Decreased By ▼ -0.12 (-0.85%)
WTL 1.31 Increased By ▲ 0.05 (3.97%)
BR100 4,173 Increased By 1.8 (0.04%)
BR30 15,195 Decreased By -58.5 (-0.38%)
KSE100 41,764 Increased By 241 (0.58%)
KSE30 15,755 Increased By 92.5 (0.59%)
Follow us

CHICAGO: US wheat futures fell to their lowest price since February on Monday, pressured by the expanding harvest of winter wheat in the northern hemisphere and a lack of demand for US supplies, traders said.

Corn futures also fell, led by deferred contracts representing the 2022 harvest. But soyabeans rose as soyaoil and soyameal futures climbed.

As of 1:03 p.m. CDT (1803 GMT), Chicago Board of Trade July wheat was down 16-1/4 cents at $9.07-1/2 per bushel after dipping to $9.00-1/2, the contract’s lowest level since Feb. 28.

“Wheat has no friends right now. We are at harvest time and that is weighing on the market... And the demand is just really bad, especially for the export side,” said Jack Scoville, analyst with the Price Futures Group in Chicago.

Analysts surveyed by Reuters on average expect the US Department of Agriculture’s weekly crop progress report, due later on Monday, to show the winter wheat harvest as 40% complete, up from 25% a week ago.

Corn futures declined on better-than-expected weekend rains in portions of the Midwest that should bolster crop prospects, as well as trade expectations for the USDA to raise its estimate of US corn plantings in a June 30 acreage report.

“Weather conditions have eased a little,” said Wang Xiaoyang, senior analyst with Sinolink Futures. “Expectation of drought has weakened,” Wang added.

Still, analysts surveyed by Reuters on average expected the USDA later on Monday to lower its weekly condition ratings for corn while leaving soyabean ratings unchanged.

CBOT July corn was down 6-1/4 cents at $7.44 a bushel while new-crop December corn was down 22 cents at $6.60-3/4 a bushel.

Comments

Comments are closed.

US wheat, corn down; soya up

PL on POL products target: IMF-govt talks hamstrung by disconnect

ECP should announce election schedule for KP, Punjab: President Alvi

Death toll from Syria-Turkiye quake nears 10,000

Pak Suzuki announces plant shutdown yet again due to inventory shortage

LHC suspends ECP's order de-notifying 43 PTI MNAs

FY24 budget: FBR invites proposals on income tax

AIIB chief economist briefed about state of economy

Sri Lanka bankruptcy to last until 2026: president

12 TTP terrorists killed in KPK’s Lakki Marwat: ISPR

Dar inducts four new members into ‘RRMC’