The Telangana tender mystery continues, will the government give the cargo @ bid prices or not is the biggest question with the Industry today. We also hear that the Telangana government has asked farmers not to sow maize in Rabi season as well, which probably has/is not going down well with the farmers. In Rabi harvest farmers have limited options to sow the land. Poultry product prices are maintaining their surge and are steadily increasing along. The restaurants/cinemas are opening today and it will be at least a fortnight to a month to see how the impact is there on the demand. Rains across maize growing regions are delaying the crop arrivals and we expect the same to restart post Dusshera festival. Buying continues to be spot and the waiting for good arrivals continue. Market prices are as below
Tamil Nadu :- Trucks 1400-1470,
Bangalore :- Trucks 1420-1430
Hyderabad :- trucks 1430-1450
Ahmedabad :- 1340-1370/1390 (super quality cargo buying)
Bihar :- 1420-1450 (Good Quality)High FD 1080-1100.
North :- 1350-1400
Sangli : -1370-1380/ Grit quality 1410-1425.
No trades, nothing to report.
International Market :-
A lot going on in the International Market, China local corn prices are the highest since 2015, the china import volumes per USDA is 7 Myn which the market trades at more than 10 Myn Mt and expected to grow further. Argentina/Brazil weather woes continues and in India Rains are impacting the harvest areas. All these indicatios indicate a delay in the crop arrival meaning more spot coverage for those who are uncovered. The spot premiums are very firm from Argentina to Brazil to Ukraine (125 to 155 cents). Cbot dec is trading at 398 cents/bushel. Interesting times ahead in the markets.
Weather is the most crucial element in the Agri supply chain fundamentals and it is really placing its importance to the core in the current scenario. We have floods in Telangana (Hyderabad)/China to the dry regions in South America, everywhere we have disruptions which is taking the markets in different terrains.