South Korea’s NOFI seeks about 60,000 T feed wheat.

South Korea’s largest feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase about 60,000 tonnes of animal feed wheat to be sourced from optional origins. Price offers were sought for two possible shipment […]

Paris wheat hits six-week high, then falls back.

Paris wheat futures fell in the face of technical resistance after earlier hitting a six-week high, with weak near-term export demand for EU wheat capping prices. December milling wheat on the Paris-based Euronext exchange was down […]

USDA crop progress: Corn harvest inches forward.

The latest USDA crop progress report shows relatively slow corn harvest progress after plentiful rain and snow fell across the central U.S. this past week. The 2018 U.S. corn harvest reached 39% complete last week, up […]

India Soybean ends over 1% higher on weak supply.

The November contract of soybean settled 1.4% higher on National Commodity and Derivatives Exchange due to subdued arrivals in the wholesale markets. Arrivals of soybean in the country were estimated at 500,000 bags (1 bag = […]

India NCDEX maize up on good demand.

Futures contracts of maize on the NCDEX ended higher due to improved buying from poultry sector and less availability of good quality stock in wholesale markets. November delivery industrial maize contract on the NCDEX ended at […]

Telangana government bought 35000 Metric tons Maize from farmers.

Telangana government buying maize at 1700 rupees per quintal from farmers. Government has not yet announced official procurement numbers but estimated to be over 35000 Mt from local sources and the news of buying continues unabated in the market. Slight rains in North Karnataka and some heavy showers in South Karnataka. If this happens the harvesting activity will slow down a bit. Rest of corn Producing areas are forecast to have dry and clear weather. North India markets continue to be rather firm and markets are expecting arrivals to flow into southern markets from now on. Indents have been placed in three more stations in Madhya Pradesh and the market awaits the arrivals now.

Fair price shops in Odisha to distribute rice through e-PoS.

The State Government has directed all Collectors to ensure that rice for families under the newly launched State Food Security Scheme (SFSS) is distributed through e-PoS (Point of Sales) devices. Distribution of stocks at fair price shops will be made only through e-PoS devices. Manual mode of distribution can be resorted to only after approval from ADM, BDO or CSO with proper justification. While the fair price shops have been asked to complete distribution of rice for the months of October and November by October 25. As per the scheme, each beneficiary family will get five kg of rice per person at Re 1 a kilo. The rice would be released only to fair price shops which have valid FPS license for the financial year 2018-19.

Govt source says tur, urad futures likely to make a comeback soon.

The government is likely to lift a decade-old ban on trading of futures contracts in urad and tur. Ministry of Consumer Affairs and NITI Aayog are in favour of allowing trading of urad and tur futures contracts. The government is also expected to give permission for the same soon and later a proposal in this regard would be sent to the SEBI (Securities and Exchange Board of India). Trading of futures contracts of these pulses will aid in price discovery and better realisation. Domestic prices of pulses have been under pressure following successive bumper harvests over the past few years.

Delayed monsoon withdrawal to benefit rabi sowing.

The delayed southwest monsoon withdrawal will benefit winter (rabi) crops like wheat and mustard, the sowing of which has kick started in pockets of Rajasthan. The sowing of rabi crops wheat, barley, gram, lentil, rapeseed, mustard and safflower normally begins from October through February and harvesting starts from March. The crop yields are dependent on soil moisture and its availability to support plant growth. Because of departure rains, there is adequate soil moisture in some state to begin rabi sowing. This year, the withdrawal of monsoon from most parts of India is almost a month behind the normal schedule of September 1. With favourable soil conditions, farmers in Rajasthan have already started planting the mustard crop and sowing of other rabi crops will begin in the coming weeks.

Chana futures gain 0.96% on strong demand.

Chana prices went up by 0.96 per cent to Rs 4,212 per quintal in futures trade, as participants enlarged their positions, tracking a firm trend at the spot market on surging demand. Expanding of positions by traders on the back of strong demand in view of ongoing festive season and increased offtake by dal mills in the physical market mainly attributed the rise in chana prices at futures trade.