Prices of wheat, paddy steady; maize trades mixed

Prices of wheat in spot markets remained steady today due to better demand amid higher arrivals, traders said. In the key market of Kota, Rajasthan, the food grain was quoted largely steady at 1,980-2,000 rupees per 100 kg, they […]

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.

Brazil grain production to rise on bumper corn crop -Conab.

Brazilian farmers are expected to harvest up to 238.54 million tonnes of grain in the 2018/19 season, with the South American country potentially breaking its production record thanks to expected corn and soy bumper crops. In the prior season, Brazilian farmers harvested some 227.91 million tonnes of grains like soybeans and corn. Much of the gain is expected to be in corn, with output expected to rise as much as 12.75 percent to 91.08 million tonnes, Conab said in its first forecast for the 2018/19 season, which kicked off in September. Brazil’s soybean output could total 119.42 million tonnes in 2019, roughly in line with this year’s record of 119.28 million tonnes, Conab said. Brazil is the world’s largest exporter of soy. Levels of farm credit, strong fertilizer sales and the intention of farmers to plant at least 61 million hectares (150 million acres) of grain all indicate a strong harvest. Recent bumper crops have been eagerly sought by China, whose demand for Brazilian grains skyrocketed this year as a result of the country’s trade war with the United States.Conab expects Brazil to export 76 million tonnes of soybeans in 2018, an all-time high since records began, and 75 million tonnes in 2019.

USDA Maintains Indian Corn Production At 26 MT, Exports To Surge.

The latest report of United States Department of Agriculture (USDA) stated that despite the slightly higher-than-anticipated planting of kharif corn, MY 2018/19 forecast for corn production is unchanged at 26 MMT due to expected lower yield, compared to last year due to patchy monsoon in western India, and reports Fall Army Worm (FAW; Spodoptera frugiperda) in corn producing states in southern India. The governments provisional planting report for the period ending September 20, 2018, estimates the kharif corn planted area at 7.92 million hectares compared to 7.93 million hectares during the corresponding period last year, but higher than the five-year historical average of 7.89 million hectares. However, deficient rains during July delayed planting of corn in most of the growing states, while prolonged dry spells during critical crop growth and reproductive stages of the crop in some parts of Karnataka, Maharashtra, and Gujarat are likely to affect yield prospect. MY 2017/18 corn exports are estimated marginally higher at 900,000 MT based on the latest available official export figures. According to available trade estimates from the Global Trade Atlas, MY 2017/18 corn exports through June 2018 are estimated at 742,000 MT compared to 389,000 MT during the corresponding period last year, mostly to neighboring Nepal and Bangladesh, with small quantities going to south Asia. Market sources report that exports during July 2018 were steady around 100,000 MT. With exports likely to taper down in the last quarter on rising domestic prices, MY 2017/18 exports are likely to reach 900,000 MT

India NCDEX maize futures end lower on profit booking.

Futures contracts of maize on the NCDEX ended lower due to profit booking after rising in the last two sessions. On the NCDEX, October delivery maize contract ended 6 rupees lower at 1,388 rupees per 100 kg. Bulk demand from starch and poultry industry has reduced in spot markets due to less availability of good quality stocks. Fresh crop arrival has commenced in some parts of Karnataka, a leading grower of the coarse grain in the kharif season, but the moisture content is too high at present. The new crop has moisture content of 28-30%, while the desirable level is only 14-15%. Both the quantity and quality of the fresh crop arrivals are expected to improve from the next month, when harvest peaks.

India NCDEX maize tad down on profit booking.

Price of the coarse grain in Purnea, the key market for rabi maize in Bihar, increased around 10 rupees from previous close to 1,390-1,410 rupees per 100 kg. Prices edged higher because of less availability of good quality crop in wholesale markets.

Arrivals of new maize 50-100 tn start in Karnataka, moisture content high.

Arrivals of the new crop of maize have started in some parts of Karnataka, a leading grower of the coarse grain in the kharif season. It has been three-four days since the new kharif maize crop has started arriving in Karnataka. Around 50-100 tn of new maize crop is arriving regularly on an average. However, the price of the old crop is still higher than that of the new crop, as the latter has high moisture content. The new crop has moisture content of 28-30%, while the desirable level is only 14-15%. Bulk buyers from the poultry, starch and food sectors prefer to buy stock from the old crop, with less moisture. Currently, there isn’t much demand in wholesale markets, as most bulk buyers have already stocked maize to meet their requirement till the end of the month.

Maharashtra to buy paddy, maize, jowar.

Maharashtra’s State Co-operative Marketing Federation along with Adivasi Vikas Mahamandal will start procurement of maize, paddy, jowar, bajra and other coarse cereals on behalf of Food Corp of India. Procurement of paddy (in Maharashtra) will start from now, while that of maize, jowar and bajra will commence from Nov 1. The government will procure fair average quality common paddy variety at 1,750 rupees per 100 kg and grade “A” variety at 1,770 rupees per 100 kg. Procurement of maize will be at 1,700 rupees, bajra at 1,950 rupees and jowar hybrid variety at 2,430 rupees and Maldandi variety at 2,450 rupees per 100 kg. The registration and buying of the farmers’ produce will be done online through NCDEX e-Markets Ltd, formerly known as NCDEX Spot Exchange Ltd. Output of kharif rice in the country in 2018-19 (Jul-Jun) is estimated at 99.24 mln tn, up 1.8% on year, kharif maize output is forecast at 21.47 mln tn, up 6.1%, while that of kharif jowar is estimated at 1.88 mln tn, down from 2.10 mln tn in 2017-18.

Maize prices largely unch on limited demand.

Spot price of maize in key Davanagere market in Karntaka was steady at 1,400-1,450 rupees per 100 kg. Demand from bulk buyers is limited because of less availability of good quality crop. Currently, maize prices are stuck in a range as buyers are waiting for fresh crop arrivals to begin, which could exert pressure on spot prices.

Corn futures are fractionally higher.

They closed with most contracts 1 to 2 1/4 cents higher supported by gains in the wheat complex. Trade Ministry data shows Brazil’s September corn exports at 3.424 MMT, up 18.11% from August but down 42.12% from last year.