About 33,000 bales (1 bale = 170 kg) of cotton arrived in major spot markets across the country on Thursday, up from 32,000 bales on Wednesday.
India year to Jun 2018 cotton area up 42% at 1.4 million hectares.
Farmers had sown cotton across 1.41 million hectares as of Thursday, up 42.4% on year. In Haryana, acreage was at 630,000 hectares, up 28% on year, while in Punjab, the area under cotton was up 52% at 382,000 hectares. Farmers in Gujarat, country’s largest producer, have started sowing cotton early this year and covered 49,000 ha as of Thursday.
Philippines seen importing more rice.
The Philippines is projected to import at least 1.5 million metric tons (MMT) of rice this year, 53.33 percent more than the estimated 0.7 million metric tons (MT) the country purchased from abroad last year. The FAO also noted that the price of rice for exports has started to go up after the Philippines and Bangladesh have sent signals that it would import more rice this year.
Bangladesh Coarse rice prices surge 42%.
Coarse rice prices saw a surge of Tk3-Tk5 per kg while fine rice saw a Tk5-Tk10 hike per kg over the past month. Coarse rice prices have registered a whopping 42% rise in the last one year.Prices of coarse rice, which is generally consumed by poor and lower-middle income residents, have shot up by 5% to 10% in grocery stores across the country, compared to the last month. A kilogram of coarse rice was sold at Tk45-Tk50 while fine rice was sold at Tk55-Tk60 per kilogram at different grocery stores in the capital on Saturday. According to Trading Corporation of Bangladesh, coarse rice prices saw a surge of Tk3-Tk5 per kg while fine rice saw a Tk5-Tk10 hike per kg over the past month.
Rice acreage up 21.9% Year of Year at 551,000 hectares.
Farmers in the country have sown kharif rice across 551,000 hectares, up 21.9% on year, as of Thursday. The acreage is 48.1% higher than the five-year average for the same period. The area under the rice crop in Nagaland was at about 143,000 hectares as of Thursday, up 8.3% on year, while in Arunachal Pradesh, the area was at 97,000 heactares, up from 85,000 hectares from a year ago. Uttar Pradesh, the largest producer of rice in the country, has not assigned any area under acreage up till now, while West Bengal the second largest producer of the crop has assigned 43,000 hectares, up from 42,000 hectares a year ago.
WASDE JUNE CORN OUTLOOK:
Projected corn production for 2017/18 is unchanged at 14,065 million bushels. USDA will release the Acreage report on June 30, providing a survey-based estimate of corn area planted and a forecast of area harvested for grain. The seasonaverage corn price received by producers is unchanged from last month at $3.00 to $3.80 per bushel. EU corn production is down based on government data indicating lower-than-expected area in France and Germany. Canada corn production is lowered on reductions to both area and yield, as wetter-than-normal conditions in Ontario and Quebec during May delayed plantings and are expected to reduce yield prospects. Ukraine corn production is raised based on reported planting progress to date indicating a level of planted area above previous expectations. For 2016/17, Brazil corn production is raised as above-normal rainfall in the Center-West during May boosts yield prospects. South Africa corn production is higher reflecting the latest production estimate from the government. Major global trade changes for 2017/18 include higher projected corn exports for Ukraine and Russia, with increased corn imports for the EU. Foreign corn ending stocks are lowered from last month, with reductions for Canada, the EU and Russia more than offsetting increases for South Africa and Ukraine.
Bulgaria Corn exports from down 12%.
Bulgaria exported 875 KMT of corn from September 2016 till May 26, or 11.5% less than shipped abroad at the same time in MY 2015/16 (988 KMT). 80% of this season Bulgarian corn exports went to the EU market (700 KMT).
India maize prices down on quality concerns in Purnea market.
Prices of maize fell in the key wholesale market of Purnea due to poor demand for moisture-laden crop. The quality of the grain deteriorated after recent heavy rains in the region. The coarse grain was sold down 20-25 rupees from previous close. June contract of maize on NCDEX was up 0.9% from the previous close.
WASDE JUNE WHEAT OUTLOOK:
Projected U.S. wheat supplies for 2017/18 are higher this month on increased beginning stocks, production, and imports. Projected 2017/18 U.S. wheat production is slightly increased by 3.8 million bushels to 1,824 million. The NASS June Crop Production report indicates higher Hard Red Winter and Soft Red Winter wheat production forecasts, which more than offset a reduced White Winter wheat crop. All of the wheat use categories are unchanged this month. The net supply increase raises projected 2017/18 ending stocks by 10.8 million bushels to 924.3 million. Carryout remains 20 percent below last year. The 2017/18 season-average farm price is projected at $3.90 to $4.70 per bushel, up 5 cents on both ends of the range. The mid-point of this range is up $0.40 from 2016/17. High-protein wheat supplies are expected to remain constrained in 2017/18, resulting in relatively higher prices for this wheat. Global wheat supplies for 2017/18 are raised 2.8 million tons, primarily on higher forecast wheat production for Russia, which is up 2.0 million tons to 69.0 million. Conditions continue to be favorable for winter wheat in most areas since the crop emerged from dormancy. Turkey’s wheat production is also forecast higher, up 0.5 million tons to 18.0 million on improved crop conditions this spring. India’s wheat production forecast is reduced 1.0 million tons to 96.0 million but is still record large and 9.0 million tons above 2016/17. European Union wheat production is forecast modestly lower at 150.8 million tons on a smaller expected crop in Germany but still 4 percent above last year. Foreign exports for 2017/18 are fractionally higher this month with increases in Argentina and Iran more than offsetting a reduction for the EU. Imports are projected higher for Brazil, Chile, and South Africa but down for Iran. Total world consumption is marginally lower, as a 1.0-million-ton reduction in India is only partially offset by increases in Russia, Brazil, and Chile. Global ending stocks are projected at a record 261.2 million tons, up 2.9 million from last month.
Russia Wheat exports from increased 8%.
Russia Ag Ministry, grain exports totaled 33.3 MMT by May 31, 2017 that is up 1.7% year-on-year. 32.7 MMT was exported at the same time last season.
Iran dispatches 1st wheat cargo to Oman.
First 35,000 tonne shipment of wheat in the new Iranian year has been deployed to Oman. The country capacity to export two million tons of wheat in the current year (began March 21) and has no need for imports of the product; with careful planning, Islamic Republic of Iran can turn into a giant exporter of wheat and flour.
Egypt buys 0.36 million tonnes of wheat in a purchase tender.
Egypt state grain buyer GASC bought 0.36 million tonnes of wheat in a purchase tender. GASC had bought 0.24 million tonnes of Russian wheat and 0.12 million tonnes of Romanian wheat, continuing the dominance of Black Sea-origin wheat, which made up the lion share of purchases in last year state tenders.
India Wheat prices rise by 5 rupees in Kota and Delhi as supplies fall.
Arrivals fell in Kota due to rains and concerns over damage to the stored crop, while farmers from other parts of north India could not transport their crops to Delhi due to rains. The key market of Indore remained shut due to prevailing unrest as protests by farmers.