AIRLINK 175.65 Decreased By ▼ -1.91 (-1.08%)
BOP 11.01 Decreased By ▼ -0.04 (-0.36%)
CNERGY 8.33 Increased By ▲ 0.16 (1.96%)
FCCL 47.10 Decreased By ▼ -0.22 (-0.46%)
FFL 16.02 Decreased By ▼ -0.10 (-0.62%)
FLYNG 27.02 Decreased By ▼ -0.33 (-1.21%)
HUBC 142.45 Decreased By ▼ -4.46 (-3.04%)
HUMNL 13.37 Decreased By ▼ -0.14 (-1.04%)
KEL 4.45 Decreased By ▼ -0.05 (-1.11%)
KOSM 5.91 No Change ▼ 0.00 (0%)
MLCF 61.50 Decreased By ▼ -0.52 (-0.84%)
OGDC 226.31 Decreased By ▼ -8.37 (-3.57%)
PACE 5.80 No Change ▼ 0.00 (0%)
PAEL 44.79 Decreased By ▼ -1.62 (-3.49%)
PIAHCLA 17.93 Decreased By ▼ -0.19 (-1.05%)
PIBTL 10.45 Decreased By ▼ -0.12 (-1.14%)
POWER 12.10 Increased By ▲ 0.11 (0.92%)
PPL 185.99 Decreased By ▼ -5.81 (-3.03%)
PRL 37.25 Decreased By ▼ -0.07 (-0.19%)
PTC 24.14 Increased By ▲ 0.94 (4.05%)
SEARL 99.95 Decreased By ▼ -0.94 (-0.93%)
SSGC 38.40 Decreased By ▼ -1.31 (-3.3%)
SYM 14.89 Decreased By ▼ -0.14 (-0.93%)
TELE 7.75 Decreased By ▼ -0.09 (-1.15%)
TPLP 11.10 Decreased By ▼ -0.01 (-0.09%)
TRG 66.00 Decreased By ▼ -1.29 (-1.92%)
WAVESAPP 11.00 Decreased By ▼ -0.35 (-3.08%)
WTL 1.36 No Change ▼ 0.00 (0%)
YOUW 3.82 Increased By ▲ 0.05 (1.33%)
BR100 12,826 Increased By 19.4 (0.15%)
BR30 38,861 Decreased By -842.2 (-2.12%)
KSE100 118,792 Decreased By -146.5 (-0.12%)
KSE30 36,779 Increased By 22.6 (0.06%)

BEIJING: Chicago wheat gained on Friday, underpinned by a big purchase from Algeria and tight global supply, while soybean eased as a record crop in Brazil weighed on the market. Corn prices also slipped.

The most-active wheat contract on the Chicago Board of Trade (CBOT) gained 0.14% to $5.41 a bushel.

CBOT corn fell 0.06% to $4.53 a bushel at 0424 GMT. Soybeans shed 0.05% to $9.96 a bushel.

EU wheat lower in light trade ahead of Christmas break

“Strong demand and uncertainty about South American corn production are expected to provide support on pull-backs,” Bergman Grains Research said in a note. Wheat’s global supply outlook is still tight, with higher prices expected over time, it added.

Algeria’s state grains agency OAIC is believed to have purchased an estimated 1.17 million metric tons of milling wheat in an international tender that closed on Tuesday, European traders said.

Russia’s IKAR agricultural consultancy on Thursday said it saw 2025-26 wheat exports at 41 million metric tons in a baseline scenario, down from 43.5 million tons expected in the current season.

Russia harvested 125 million tons of grain and legumes, including 82 million tons of wheat in clean weight in 2024, down 13% from last year, data from statistical agency Rosstat showed on Thursday.

Commodity funds were net buyers of Chicago Board of Trade corn, soybean, soymeal and wheat futures contracts on Thursday and net sellers of soyoil futures, traders said.

Comments

200 characters
Dawood Dec 27, 2024 01:03pm
Pakistan should closely watch and follow this. Rough year ahead. Those who get a chance to leave, leave now.
thumb_up Recommended (0) reply Reply