Bihar is reacting to Bangladesh price rise and non availability of good quality cargo. All eyes are fixed on Telangana govt release order, buyers prefer to remain spot and the plans are being made for the coming harvest. Market prices are as below
Tamil Nadu :- Trucks 1530-1600,
Bangalore :- Trucks 1500-20
Hyderabad :- trucks 1520-1550
Ahmedabad :- 1370-80/1410-15 (super quality cargo buying)
Bihar :- 14100-1440 (Good Quality) Average 1270 Rail head. High FD 1120-1150.
North :- 1300-1400/1500 (average to best to absolute best quality prices ) cargo for Haryana/Punjab
Sangli : -1400-1420/ Grit quality 1480-1500.
We hear from market sources that AP govt can buy kharif crop @ MSP 1850. How firm is that needs to be seen and if this happens entire supply chain will again be worked out again.
No trades nothing to report. 59 MT cargo in warehouse. One seller two buyers hold the postion (as per exchange website).
International Market :-
US stock report came as a shock to the market (Analysis attached in the report). Cbot dec corn traded 382 cents/bushel almost 18 cents higher, not only did the markets rally for corn but for all the grains Wheat/Soyabeans/Oil. We will now have to rework the new parities coming out from South America and accordingly make up indian scenario. Interesting times ahead.
Sensex and Nifty
Sensex and Nifty continued their upward march and closed 629 points and 169 points higher @ 38697 and 11416 levels. Rupee closed at 73.16 appreciating about 40 paise to previous day close.
The weather is clear and we have the Extended weekend due to Gandhi and Shastri Jayanti ( 02 October), we forsee harvest continuing in Telangana/Maharashtra. Madhya Pradesh harvest will take an extra week and Karnataka expected end October basis.