Pakistan year-to-Jul 2018 cotton output is seen down by 2 million bales (1bale=170kg) to 12.04 million bales due to water shortage and concerns over yield owing to late sowing. For 2017-18, Pakistan has set a cotton production target of around 14.4 million bales and is eyeing an area of 3.11 million ha under the crop. India may get an opportunity to export raw cotton in the coming season due to lower production in the neighboring country. India total cotton exports to Pakistan in 2016-17 (Oct-Sep) are estimated at 1.8-2.0 million bales.
India Sowing in 2017-18 kharif season up over 9% at 7.3 million hectares.
Area under rice has gained momentum due to the recent rains and 349,000 heactres of land has been brought under cultivation of the water-intensive crop so far, higher than 329,000 hectares in the corresponding period last year. The weather department expects monsoon rains to be normal this year at 96% of the long-period average. Betting on good monsoon rains, the agriculture ministry is targeting food grain production at an all-time high of 280 million tonne in the new crop year that starts June, higher than this year record of 273.4 million tonne.
India Govt says soil health card reduced cost of paddy farming by 16-25%.
The use of soil health cards has led to 16-25% reduction in cost of paddy cultivation and 10-15% reduction in pulses and oilseed farming in 136 districts of 16 states. After the introduction of soil health card scheme, there has also been 10-25% increase in paddy production, 10-15% in coarse cereals, 10-30% in pulses and 35-66% rise in output of oilseeds. Soil Health Card provides information to farmers on nutrient status of their soil along with recommendations on appropriate dosage of nutrients for improving soil health and its fertility.
Ukraine almost completed corn sowing.
Sowing of spring grain and pulses crops had been completed at 7079 thousand hectares, or 98% of the plan. Last year by June 01 Ukrainian farmers carried out sowing at 7183 thousand hectares. This includes spring wheat which had been sown at 173 thousand hectares (97%) against 166 thousand hectares in 2016, spring barley – 1564 thousand hectares (95%) against 1816 thousand hectares in 2016, corn – 4442 thousand hectares (99%) against 4391 thousand hectares.
Maize price remained unchanged in spot markets, high on NCDEX.
Maize futures on the NCDEX ended slightly higher due to firm demand from stockists for the superior quality crop. The current month contract of rabi maize ended up 0.2% from the previous close. In spot markets, prices of the coarse grain remained unchanged. In Purnea, Bihar, the superior quality grain was sold at 1,220-1,225 rupees per 100 kg, while the low-quality variant was quoted at 1,100-1,120 rupees per 100 kg. With improving weather conditions, supply of superior quality maize is increasing.
Acreage under maize is at around 53,000 hectares, up 178.9 % on year.
Sowing under coarse grains is about 125,000 ha, against 101,000 ha in the corresponding period last year. The rise in acreage under most crops is largely due to good rains in major growing regions of the country over the last two weeks. Betting on good monsoon rains, the agriculture ministry is targeting food grain production at an all-time high of 280 million tonne in the new crop year that starts June, higher than this year record of 273.4 million tonne.
CBOT wheat contract up.
wheat contract climbed 0.5 % to $4.31-3/4 a bushel, having closed up 0.1 % on previous close. Wheat up half a percent on forecasts of hot, dry U.S. weather. Dryness and hot weather are causing concerns for the U.S. wheat crop.
Wheat prices flattened out in Russia market last week.
Export prices for Russian milling wheat with 12.5% protein closed the week within $185-188/MT FOB in Novorossiysk port for June delivery. This is on average down $4-5/MT year-on-year. Russian wheat exports in the latter half of the season are up 17.5% from last year. May wheat exports from Russia may approximate 1.6-1.8 MMT.
Wheat prices edge up as adverse weather could hit U.S. crops.
Wheat was supported by forecasts of warm and dry weather in the northern U.S. Plains, potentially stressing newly planted spring wheat, and as excessive rains have swamped fields in the southern Plains and the Midwest. The most active wheat futures on the Chicago Board of Trade climbed 0.2 percent to $4.30-1/4 a bushel. The U.S. Department of Agriculture this week rated 62 percent of the U.S. spring wheat crop as good to excellent, down significantly from 79 percent a year earlier.
India Wheat prices unchanged in spot markets, down on NCDEX.
Demand for wheat is weak in south India, as there are ample stocks of imported wheat at ports and domestic markets are also flooded with supplies due to a bumper crop this year. wheat futures on the National Commodity and Derivatives Exchange ended down. The most active June contract ended down 0.2% from the previous close.