The Update from Mr. Prime Minister is that 80 crore Indians will get free ration of 5kg Wheat or 5kg Rice along per person along with 1kg chana per family till November 2020, in his latest address to the nation. The outlay expected to be about 90000 Crores.
Market is trading slightly weaker on lower demand from south and east markets, market awaits Telangana markfed tender. Destination market prices are as below
Tamil Nadu :- Rake 1465-1475, Trucks 15600-1580
Bangalore :- Rake 1455-1465, Trucks 1550-1575
Hyderabad :- trucks 1530-1575.
Ahmedabad :- 1400-1450/60
Bihar :- 1160-70 Rake point, 1220-1230 warehouse.
North :- 1370-1390 UP cargo for Haryana/Punjab
Sangli : -1480-1500
Poultry and starch finished product prices are trading lower, starch prices are quoted around 19000/- pmt and bird prices are also around 70/- per kg which are coming down consistently in the last fifteen days. The impact of product prices is likely to come down to the raw material prices as well.
July contract trading at 1304, with an open interest of 2530 mt and august contract trading at 1318 with an open interest of 80 mt, spot prices continue to remain at 1250.
International Market :-
Bangladesh Rake quota yet to be announced for the month of july. Cbot July contract closed at 326 cents/bushel, us crop reports awaited today, will share the detail description once received and analysed by our US office.
Rains received in Gujarat/East MP/West Madhya Pradesh/Bihar and North East India and expectations are for more rains during the week.
Sensex and Nifty closed marginally lower @ 34915 down 45 points and nifty was down by 10 points @ 10302. Rupee is trading at 75.50 versus close of 75.61 yesterday.