ICE Raw Sugar July contract down at 12.61 cents/pound (-0.36%).
USDA forecast world sugar output to rise by 8.8 mln tn to a record high 179.6 mln tn in 2017-18, among expectations of a recovery in production in India.
USDA forecast world sugar output to rise by 8.8 mln tn to a record high 179.6 mln tn in 2017-18, among expectations of a recovery in production in India.
India sugar rises on NCDEX due to bargain buying, flat in spot markets.
India sugar rises on NCDEX due to bargain buying, flat in spot markets.
Prices of sugar remained unchanged in Maharashtra due to thin trade.
Prices of sugar remained unchanged in Maharashtra due to thin trade.
India kharif Sugarcane 2017-18, sowing 4.752 mln ha up 6.02% vs 4.482 mln ha LY as on 23 June.
India kharif Sugarcane 2017-18, sowing 4.752 mln ha up 6.02% vs 4.482 mln ha LY as on 23 June.
Chana down in Delhi as supply rises, demand slips.
Chana down in Delhi as supply rises, demand slips.
MCX cotton at 5-month low as output seen higher.
Futures contracts of cotton on the MCX hit a five-month low of 19,580 rupees per bale (1bale=170kg) due to expectations of higher output in 2017-18 (Oct-Sep). Cotton acreage in Gujarat, the largest producer, was at 496,400 ha, compared with 175,500 ha last year. On the MCX, the most active July cotton contract was at 19,800 rupees per bale, down 0.4% from the previous close.
All-India cotton arrivals down at 21,100 bales.
Around 21,100 bales (1bale=170kg) of cotton arrived in the major spot markets across the country on Thursday, compared to 22,200 bales on previous close.
NCDEX coriander hits upper limit on improved buying.
Futures contracts of coriander on NCDEX hit 3% upper limit, tracking spot markets where improved buying lifted prices. The most-active July contract was at 5,040 rupees per 100 kg, up 2.25% from the previous close. Supply in Rajasthan was 4,000 bags (1bag=40kg), almost unchanged from previous close. In Kota, Rajasthan, the Badami variety was sold at 5,600-5,800 rupees per 100 kg, while the Eagle variety was quoted at 5,800-6,000 rupees, both up by 200 rupees from previous close.
Bangladesh Rice exports seen picking up, Sri Lanka demand.
Rice exporters see a pick-up in demand for the Indian cereal from Bangladesh as the recent floods in that country have impacted output and sent prices high. Also, a drought in Sri Lanka has resulted in improved demand for the finer varieties such as sona masuri. Bangladesh recently floated three tenders to import about 1.5 lakh tonnes of white rice and par-boiled rice. A fourth tender is expected in July 1st week. Export prices have improved by about 15 per cent since the beginning of the year. As against FOB price of $360-370 per tonne in January, prices of white rice have now moved to between $420 and $430 a tonne.
India Branded rice set to get dearer; traders, mill owners worried.
It nigh impossible to think of a south Indian meal without rice. And now, with the country getting ready for the rollout of the goods and services (GST) tax regime, South Indians, for whom rice is a staple food, have a reason to worry – all varieties of branded rice are set to get dearer by 5% per kilogram, come July 1. Karnataka is likely to be worst affected owing to the additional cess on grains levied by the state government on traders and millers. Besides the 5% GST tax on branded food grains, the state government levies a 1.5% market tax on food grains, which the Agriculture Marketing Produce Committee (APMC) has decided to continue even after the rollout of GST.
South Africa 2017 maize crop seen at record 15.8 million tonnes.
South African expected to reap a record 15.82 million tonnes of maize this season after better weather boosted yields. The estimate is 1.4% higher than the latest forecast from the government Crop Estimates Committee (CEC) which put the harvest at a record 15.6 million tonnes, double last year output. A drought triggered by an El Nino weather pattern left 2016 harvest at just 7.78 million tonnes, but favorable weather since has put this year crop on track to surpass the previous record of 14.656 million tonnes in 1981. The Johannesburg stock exchange white maize futures contract due in September has fallen 66% from its peak of R5 188 a tonne hit in May last year to close at R1 775 on previous close.
India maize prices rise on low supply.
Prices of maize rose in the key wholesale market of Purnea, Bihar, because of a fall in the arrivals. The coarse grain was quoted up 10 rupees from the previous day. Around 500 tonne of maize arrived in Purnea, down from 700 tonne previous close, as recent rains in Bihar have hit transportation. Futures contracts of maize also traded slightly higher tracking the spot market. The most-active July contract of maize on the National Commodity and Derivatives Exchange traded up 0.2% from the previous close.
US Wheat falls 2 percent on profit-taking.
Chicago Board of Trade wheat prices fell about 2 percent, extending their slide to four sessions on profit-taking after a run-up to one-year highs last week. CBOT July wheat was down 8-1/2 cents at $4.51-1/4 per bushel. MGEX July reached $6.75 a bushel.
European wheat futures hit a 10-day low as the easing of a heatwave, harvest advances.
European wheat futures hit a 10-day low as the easing of a heatwave in western Europe and a quick start to harvesting in France offset weather worries that had pushed prices to a near one-year high last week. December milling wheat, the most active position on Paris-based Euronext, was down 2.00 euros, or 1.1 percent, at 176.00 euros a tonne at the close, just off an earlier low of 175.50 euros. The European Union crop monitoring service lowered its 2017 yield forecast for EU soft wheat, citing hot, dry weather.
Indore wheat unchanged on poor demand, fall in supply.
Prices of wheat were unchanged in the benchmark market of Indore as poor demand offset gains from the fall in arrivals. Arrivals of wheat in the Indore market were at 700 tonne, down from 800 tonne on previous close.