AGL 5.74 Decreased By ▼ -0.09 (-1.54%)
ANL 9.10 Increased By ▲ 0.07 (0.78%)
AVN 79.30 Increased By ▲ 0.50 (0.63%)
BOP 5.18 Increased By ▲ 0.02 (0.39%)
CNERGY 4.71 Increased By ▲ 0.03 (0.64%)
EFERT 81.00 Increased By ▲ 0.45 (0.56%)
EPCL 50.60 Decreased By ▼ -1.11 (-2.15%)
FCCL 13.50 Decreased By ▼ -0.11 (-0.81%)
FFL 5.79 Decreased By ▼ -0.06 (-1.03%)
FLYNG 7.17 Increased By ▲ 0.05 (0.7%)
FNEL 4.91 Increased By ▲ 0.06 (1.24%)
GGGL 8.88 Decreased By ▼ -0.02 (-0.22%)
GGL 15.82 Decreased By ▼ -0.23 (-1.43%)
HUMNL 5.91 Increased By ▲ 0.11 (1.9%)
KEL 2.62 Increased By ▲ 0.02 (0.77%)
LOTCHEM 29.90 Decreased By ▼ -0.11 (-0.37%)
MLCF 24.90 Decreased By ▼ -0.50 (-1.97%)
OGDC 72.30 Increased By ▲ 0.15 (0.21%)
PAEL 15.45 Decreased By ▼ -0.04 (-0.26%)
PIBTL 5.11 Increased By ▲ 0.10 (2%)
PRL 16.51 Increased By ▲ 0.11 (0.67%)
SILK 1.11 Increased By ▲ 0.01 (0.91%)
TELE 9.60 Decreased By ▼ -0.05 (-0.52%)
TPL 7.33 Increased By ▲ 0.03 (0.41%)
TPLP 19.32 Increased By ▲ 0.09 (0.47%)
TREET 21.95 No Change ▼ 0.00 (0%)
TRG 145.15 Increased By ▲ 0.18 (0.12%)
UNITY 16.73 Increased By ▲ 0.11 (0.66%)
WAVES 10.00 No Change ▼ 0.00 (0%)
WTL 1.38 Increased By ▲ 0.01 (0.73%)
BR100 4,251 Increased By 21.2 (0.5%)
BR30 15,834 Increased By 11.9 (0.07%)
KSE100 42,295 Increased By 223.9 (0.53%)
KSE30 15,624 Increased By 119.7 (0.77%)
Follow us

PARIS: Euronext wheat prices fell on Wednesday in step with Chicago futures as progress in resuming maritime grain exports from war-torn Ukraine offset support from brisk international demand, traders said. December milling wheat on Paris-based Euronext settled down 1.1% at 323.00 euros ($327.91) a tonne.

The contract had earlier risen to 330.75 euros, before turning lower to approach Tuesday’s one-week low of 321.25 euros.

A firmer dollar also weighed on Chicago grain prices.

The first grain vessel to leave a Ukrainian sea port since the start of Russia’s invasion was inspected in Turkey on Wednesday before its onward journey to Lebanon, raising hopes for a safe-passage deal brokered by Turkey and the United Nations.

A senior Turkish official said three ships could leave Ukrainian ports daily after the first sailing, while Ukraine’s infrastructure minister said 17 more ships had been loaded with agricultural produce and were waiting to set sail.

However, traders remained cautious about the scope for large-scale Ukrainian sea trade while Russia’s invasion continued and pending the creation of insurance cover for such shipments.

Euronext had earlier in the session extended a rebound from Tuesday’s low as a purchase estimated at over 700,000 tonnes by Algeria underscored strong export prospects for European Union wheat.

Tunisia also booked wheat in a tender.

In Germany, physical premiums remained well supported by export demand and slow farmer selling.

Buyers of standard 12% protein wheat for September delivery in Hamburg were offering around 31 euros a tonne over the Euronext December contract but with few sales offers seen in the market.

“Much export demand looks likely to be met by Europe for the coming weeks despite the start of Ukrainian sea shipments,” one German trader said.

In France, recent sales to Pakistan reported by traders were expected to contribute to another busy loading programme this month after an unusually brisk start to the season in July.

Port data also showed a vessel due to call in France to load barley for Iran, the third such shipment since June in what traders say reflects a partial shift in barley exports away from China.

Comments

Comments are closed.

EU wheat eases with Chicago as Ukraine, exports assessed

PD prepares $496m gas pipeline augmentation plan

Intra-day update: rupee registers marginal losses against US dollar

Pakistan receives $500mn from AIIB: finance ministry

Oil jumps on hopes for easing in China’s COVID controls

IMF, govt begin virtual engagement

Dar willing to allow sugar export?

Presidential Reference on Reko Diq project: SC to announce short order next week

Tax-exempted areas: FBR sets up checkposts to monitor supplies

TTP ends ceasefire, orders nationwide attacks

Saudi unveils plan for massive new airport in capital