Sowing Report :-

We have seen better sowing in regions of Karnataka, Punjab this season with Telangana lower by almost 77% as compared to last year. Maharashtra/Orissa/Jharkhand are marginally better in terms of sowing, the main report or the focus would be on the crop yields this year. As per market participants/origin traders the Yield is expected to be better than last year by 10% compared to previous year 2019-2020. The crop arrivals is expected to begin from 01/week October and should peak in End Oct early November.

 

Market Prices :-

Maharashtra Poultry market seems to be in the buying mode for the last couple of days, we hear normal operations in the rest of the country, Distilleries and Poultry have been buying cargoes from the market. The Telangana part tender is on for 12k Mt, the tender is open today and bids expected to open on the 01/Sep. Buying seems to be hand to  mouth or just replacement in trading terms. The tender prices will provide the direction to the market for quantities of Andhra auction and further Telangana cargoes. Bangladesh demand is also quiet at the moment. Destination markets are as below

Tamil Nadu :- Rake 1350 (quality issues), Trucks 1450-1500

Bangalore :- Rake 1360-80, Trucks 1450-1480

Hyderabad :- trucks 1480-1520.

Ahmedabad :- 1300-1325/1390 (super quality cargo buying)

Bihar :- 1130-1140 Rake point, 1250-1270 warehouse.

North :- 1350-1450 (average to best quality prices ) cargo for Haryana/Punjab

Sangli    : -1400

Exchange :-

No trades on the platform, nothing to report.

International Market :-

Cbot dec contract is trading at 342 cents/bushel, US cargo is getting actively traded to china along with beans. Ukraine/Russia have some weather concerns, details of which should be having by tomorrow, weathermen shows no rains in Ukraine/Russia for one week. Bangladesh demand from India will now have to look at Nov/Dec/Jan windows as sep/oct looks covered for Bangladesh players.

 

Sensex and Nifty

Sensex and Nifty are trading higher by 370 and 100 points respectively from Fridays close. The rupee has appreciated sharply and is trading at 74.16 as of this report writing from previous close of 74.91. The Rupee/USD movement has been linked to RBI operation.

Weather :-

We have excess rains of 5% as compared to same time last year, overall rainfall has been 699 (MM) versus normal rainfall of 623 mm for the same period. We will have good rains during the week in Regions of MP/Maharashtra/Rajasthan/UP/Bihar/Orissa barring regions of North and South Interior Karnataka. As of now there have been no news reported on crop loss especially for maize. Cotton looks to be the main casualty for the excess rains this year.