Output of maize has exceeded 6m tonnes for the first time in the country. This is going to boost both local sales and exports of corn and corn-based products. Pakistan produced 6.13m tonnes of maize in FY17, up 16.3pc from last year 5.271m tonnes. Whereas the area under cultivation increased to 1.334m hectares from 1.191m hectares in FY16, the crop’s yield also went up to 4,595kg per hectare from 4,426kg per hectare.
India Maize up in Purnea as rains hit arrivals.
Prices of maize rose in the benchmark Purnea market of Bihar as monsoon rains hampered arrivals. About 500 tonne maize arrived in Purnea, down from nearly 2,000 tonne on previous close. Good quality maize was sold at 1,250 rupees per 100 kg in Purnea, up by 50 rupees from previous close. Maize prices were up due to low availability of good quality crop, total arrivals to market are also falling now due to rains.
US wheat exports.
Wheat exports Down 7.75% from last week at 801,725 MT, but still 29.37% larger than last year.
Jordan issued an international tender to purchase 100,000 tonnes wheat.
Jordan state grains buyer again issued an international tender to purchase 100,000 tonnes of hard milling wheat which can be sourced from optional origins. The tender closes on June 20. A new tender had been anticipated by traders after Jordan made no purchase in its previous tender for 100,000 tonnes on June 13.
European wheat high as heatwave fans crop concerns.
European wheat futures rose to their highest in nearly a year as growing concerns about the impact on crops of a heatwave in France added to support from a weather rally on the U.S. market. December milling wheat, the most active contract on the Paris-based Euronext exchange, was up 2.75 euros or 1.5 percent at 180.00 euros ($200.95) a tonne. Front-month September also touched its highest since last July, adding as much as 4 euros to 177.50 euros.
US Wheat jumps 1.1 % as U.S. crop condition declines.
Chicago wheat futures rose more than 1 percent, with prices underpinned by a further decline in the condition of the U.S. spring crop following weeks of dry weather. USDA rated 41 percent of the U.S. spring wheat crop as good-to-excellent, down from 45 percent a week earlier. Winter wheat the good-to-excellent rating stood at 49 percent compared with 50 percent a week ago and below last year 61 percent.
Iran exports 35,000 tonnes of wheat to Oman.
Iran exported a 35,000 tonne cargo of wheat to Oman. For the time being only one cargo of milling wheat has been traded to Oman. because Iranian wheat is not graded, and with the current low prices of wheat from other more attractive origins, it is very unlikely that Iran able to sell more significant volumes.