Sugar up in north India, down in Mumbai; NCDEX subdued.
NCDEX coriander up on low supply, domestic demand.
Coriander futures were up on the NCDEX as arrivals in Rajasthan declined, and demand from local stockists rose. The most active July contract was at 4,870 rupees per 100 kg, up 0.6% from the previous settlement. In Kota, the benchmark market, the Badami variety of coriander was sold at 5600-5,650 rupees per 100 kg, while the Eagle variety was quoted at 5,800-5,850 rupees, both up 100 rupees from previous close. Arrivals in Rajasthan stood at 4,400 bags (1bag=40kg), down 1,100 bags from the previous day.
India coffee exports during Jan 1- Jun 12.
The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonne, up from 327,000 tonne produced a year ago, but down from previous estimate of 350,000 tn. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.
MCX cotton down on higher output expectations.
Futures contracts of cotton on the MCX fell because of expectations of a higher production in the country, backed by a rise in acreage. Farmers in the country had sown cotton across 1.41 million hectares as of Jun 8, up 42.4% on year, according to the agriculture ministry’s sowing data for 2017-18 (Jul-Jun). Higher ending stocks of cotton with farmers also weighed on the sentiment. The USDA has scaled up its estimate for ending stocks of cotton in India for 2017-18 (Aug-Jul) to 13.34 million bales (1USbale=480pound) from 13.24 million bales projected in May. On the MCX, the June contract was at 20,390 rupees per bale (1bale=170kg), down 0.7% from the previous close.
All-India cotton arrivals steady at 31,000 bales.
About 31,000 bales (1bale=170kg) of cotton arrived in major spot markets across the country on Monday, steady from previous close.
Romania Corn exports over September-March 2016/17 are 19% higher year on year.
In March 2016/17 MY Romania exported 190 KMT of corn, which was a little bit higher than the volume, shipped in March 2015/16 – 185 KMT. Record volume for this month was exported in March 2014/15 – 461 KMT. Since the beginning of the current season (September-March) corn exports from Romania equaled 2727.6 KMT or 18% more than over the same period last season (2304 KMT). Over the reporting period share of third countries grew to 47% (1279 KMT) from 31% (720 KMT) during the same period last season, as Romanian traders opened the markets of Iran and Vietnam this season.
Bulgaria Spring grain crops sowing.
High air temperature was typical for the Bulgarian territory during the first ten days of June. In some places, the air temperature reached +30-33°C. Such weather boosted the agricultural crops development. In some regions, precipitation in the form of rain and hail damaged crops. Corn for grain had been planted on 411.52 Th ha compared to 415.87 Th ha by the same time last year.
Zimbabwe bans grain imports after higher maize output.
Zimbabwe has banned grain imports to protect local farmers after producing enough to meet domestic demand. The southern African nation’s grain agency has also raised $200 million from the government and private sector to purchase maize from farmers. The national treasury last week forecast output of the staple maize at 2.1 million tonnes this year, from 511,000 tonnes in 2016.
CBOT corn Up 2 to 4 cents per bushel.
Strength in corn stemming from new weather outlook that took some rain out of the forecast for the U.S. Midwest during the next week. Bargain buying also expected following sharp decline on previous close. CBOT July corn last up 2-1/4 cents at $3.79-1/2 a bushel.
India Delhi wheat prices unchanged in thin trade, Indore markets shut.
In Delhi, mill-quality wheat was sold at 1,755 rupees per 100 kg, while the grain was quoted at 1,518 rupees in Kota. Markets in Indore have been shut for nearly 15 days due to ongoing protests by farmers in the state. Futures contracts of wheat on the NCDEX were flat, with the most active July contract ending at 1,610 rupees per 100 kg, unchanged from the previous close.
Syria received 225,000 T of Russian wheat from commercial deal.
Syria has received 225,000 tonnes of Russian wheat, part of a 1.2 million tonne wheat deal struck in February through its state grain buyer. Syria one-million tonne tender execution still on hold Hoboob so far purchased 32,000 tonnes of local wheat. Syria has so far procured only around 32,000 tonnes of wheat but the buying season will go on until August. It expects the country to produce 2.17 million tonnes of local wheat in the 2017 season.
Tunisia tenders to purchase 92,000 tonnes of soft milling wheat.
Tunisia state grains agency has issued an international tender to purchase some 92,000 tonnes of soft milling wheat and 25,000 tonnes of feed barley. The origin was optional. Tender deadline is Wednesday, June 14. The wheat was sought in three consignments of 25,000 tonnes and one of 17,000 tonnes. If sourced from Europe or the Black Sea region, shipment was sought for Aug. 20 to Oct. 10. Shipment periods from other origins differ. The barley was sought in a single 25,000 tonne consignment for July 15 to Aug. 5 shipment depending on origin.
Egypt GASC to import 6 million metric tonne of wheat this year.
GASC, was expected to import a record six million metric tonne of wheat this marketing year, up from around 5.4 million metric tonne in the last year. A GASC wheat tender was announced for shipment July 15-25 for 12.5% protein wheat. GASC closed its most recent wheat tender on Saturday for 360,000 metric tonne for July 10-20 shipment on an FOB basis at an average price of $194.22/ metric tonne, which included both Romanian and Russian origins. That followed a tender that closed on May 31 when 240,000 metric tonne were purchased.
CBOT Trends-Wheat up 5-8 cents/bushel.
Rising on strength in MGEX spring wheat futures, which rallied overnight following the U.S. Agriculture Department crop conditions report that showed good-to-excellent ratings for the spring wheat crop fell in the latest week due to dryness in the U.S. Plains. CBOT July soft red winter wheat was last up 5-1/4 cents at $4.39-1/4 cents per bushel, K.C. July hard red winter wheat was last up 7-1/2 cents at $4.50-1/4 a bushel and MGEX July spring wheat was last up 15 cents at $6.15-1/2 a bushel.
US Wheat Soars as U.S. Spring Crop in Worst Shape.
Forty-five percent of the crop, the high-protein variety grown in northern states, was in good or excellent condition, down 10 percentage points from the prior week.
Australia raises wheat forecast on east coast rains.
Australia slightly raised its forecast for 2017/18 wheat production on as favourable weather along the country east coast looks set to boost output. Australian wheat production is expected to total 24.19 million tonnes up nearly 1 percent from its March forecast of 23.98 million tonnes.
US Arkansas wheat forecast falls 8 percent.
USDA adjusted its forecast for the 2017 Arkansas wheat production, dropping by 8 percent between May 1 and June 1 to about 6.05 million bushels. The yield forecast dropped from 60 bushels per acre in May to 55 bu/ac in June. The state total acreage for winter wheat dropped by about 5,000 acres from 2016 to about 110,000 acres in 2017, but remained unchanged from May to June.
Bangladesh to import 250,000 tonnes of rice from Vietnam at raised prices.
Bangladesh is set to buy 250,000 tonnes of white and parboiled rice from Vietnam at prices $50-$90 higher per ton than the previous month, to maintain immediate availability of stock in the market, as well as reserves. The government will be importing 200,000 tonnes of white rice at $430 per ton, though the price per ton was $380 in the last month. The ministry is also planning on procuring 50,000 tonnes of parboiled rice at a cost of $470 per ton, while the price had been less than $450 just a week ago. In addition, in a recent international tender by the food ministry, parboiled rice was listed at $ 427.85 per tonne and white rice was at $406.48. The country rice stock has hit a 5 year low, at 193,000 tonnes.
Philippines NFA stops rice imports entry through Subic Bay Freeport.
Imported rice could no longer be shipped through Subic Bay Freeport based on the latest decision of the National Food Authority (NFA) Council. The decision came after weeks after the Bureau of Customs reportedly seized thousands of sacks of rice from Thailand illegally shipped through Subic port. The shipment was seized last April due to lack of import permit. It was reportedly worth P23 million.
Philippines Govt to tap private suppliers for 250,000 tons of rice imports.
The government will tap private suppliers for rice imports, instead of entering government-to-government agreements, in a bid to increase competitiveness and transparency. National Food Authority Council has agreed to shift from government-to-government agreements to a government-to-private procurement scheme for importing 250,000 tons of rice. NFA Council divide 250,000 metric tons into 8-10 tranches with a 25,000 to 5000 MT cap per lot to ensure competition and fairness.