Rice basmati prices fell further by up to Rs 200 per quintal at the wholesale grains market today owing to fall in demand against adequate stocks position. In the national capital, rice basmati common and Pusa 1121 variety slipped to Rs 6,600-6,800 and Rs 5,500-5,800 from previous levels of Rs 6,800-7,000 and Rs 5,600-5,900 per quintal, respectively.
India Paddy transplantation begins.
The area under paddy has come down from roughly 30.46 lakh hectares during the last season to 28.45 lakh hectares now. Going against the guidelines issued by the Agriculture Department, Punjab farmers in several villages have started transplanting paddy. As per the Sub Soil Water Conservation Act the Agriculture Department would destroy the paddy if is transplanted even a single day before June 15 and the farmer would be made to pay for it. Many farmers also believe that the labour is easily available during the initial days and thus it is convenient for them to transplant paddy on time.
India Flash floods in Assam likely to hit paddy production.
Heavy monsoon showers that caused flash flooding in certain parts of Assam are likely to hamper production of paddy in the state. Most farmlands are submerged under water, causing threat to paddy seeds sown in the fields. During the first 13 days of the Jun-Sep monsoon season, Assam and Meghalaya received 148.9 mm of rainfall, while it received 94% above-normal rains on tuesday.
U.S. Wheat edges higher as fears for Spring crop linger.
U.S. wheat futures edged higher, recouping much of the losses from the previous session, as concerns over potential yield losses from recent dry weather lent support to prices. CBOT wheat futures rose 0.2 percent to $4.43-3/4 a bushel, having closed down 0.44 percent on previous close.
German 2017 wheat crops harvests expected up on year.
The country association of farm cooperatives said German wheat benefited from rain in recent weeks and an increase in both crops is expected in the 2017 harvest. Germany 2017 wheat crop increase 3 percent on the year to 25.20 million tonnes. In its last estimate in May, association forecast a German 2017 wheat crop of 24.98 million tonnes.
France AgriMer raises 2016/17 wheat stocks forecast.
France AgriMer raised forecast for French soft wheat stocks at the end of the 2016/17 season to 2.7 million tonnes from 2.4 million estimated last month. The increased stocks outlook notably reflected a 200,000 tonne cut to forecast French soft wheat exports outside the European Union in 2016/17 to 5.0 million tonnes.
Australia ABARES pegs 2017-18 wheat crop at 24.2 million tonne, down 31%.
The Australian Bureau of Agricultural and Resource Economics and Sciences has forecast the country wheat output in 2017-18 (Apr-Mar) at 24.2 million tonne, down 31% from previous year’s record high of 35.1 million tonne. The decline may be largely attributed to around 1.3% fall in wheat acreage to 12.7 million tonne.
India Govt Jun 1 wheat stocks 33.4 million tonne, up 2.4% from a year ago.
The government had 33.4 million tonne wheat in its stocks as of Jun 1, up from 32.6 million tonne a year ago. Government stocks have risen due to higher procurement this year. Larger purchases by government are likely to take wheat stocks in central pool to a comfortable situation this year after they fall to multi-year low last year.
India Wheat futures edge up 0.50% on spot demand.
Wheat prices inched up by 0.50 per cent to Rs 1,614 per quintal in futures trade as speculators built up fresh positions amid uptick in demand in the spot market. At NCDEX, wheat for delivery in July rose by Rs 8, or 0.50 per cent, to Rs 1,614 per quintal, with an open interest of 25,360 lots. Analysts attributed the rise in wheat futures to fresh positions created by traders due to pick up in demand from flour mills in the physical market amid pause in supplies.
India govt extends FY18 wheat buys in Rajasthan till Jun 30.
Wheat procurement in Rajasthan has been extended by a fortnight and will now continue till Jun 30. So far, the government has purchased 1.21 million tonne wheat in the state for the 2017-18 marketing year (Apr-Mar), nearly 60% higher than a year ago. Government may purchase 1.25 million tonne from the state by the time the procurement ends. Overall, the government has so far purchased 30.5 million tonne wheat across the country, up 32.8% from a year ago.
India Govt. Wheat Sale Reserve Price (Rs. /100Kg) State Wise:
Delhi Rs.1852-1866; Kerala Rs.2153-2178; Karnataka-Rs.2084-2118. Invites also floated for other states too. As earlier Govt declared that wheat from Punjab/Haryana/Madhya Pradesh would sale at Rs.1790 excluding the transportation and other charges. India wheat procurement crosses 30.5 MMT, last year same time 22.96MMT.
NCDEX coriander up over 2% as demand exceeds supply.
Futures contracts of coriander rose over 2% on the NCDEX because demand from domestic retailers was higher than the stocks available with farmers and stockists. The most-active July contract traded at 4,983 rupees per 100 kg, up 2.4% from the previous close, after it hit the 3% upper circuit in early trade. India annual consumption of coriander is 320,000 tonne, and the amount left with stockists is only half of it. In Kota, the benchmark market, the Badami variety of coriander traded at 5,700-5,750 rupees per 100 kg, while the Eagle variety was quoted at 5,900-5,950 rupees. Prices of both the varieties were up 100 rupees from previous close. Arrivals in Rajasthan were largely unchanged at 4,400 bags (1bag=40kg).
NCDEX marks 2,160 tonne coriander for delivery.
The NCDEX has marked 2,160 tonne of coriander for staggered delivery in the June contract. The bourse has also marked 1,530 tonne of soybean, 260 tonne of cottonseed oilcake, 240 tonne each of castor seed and guar seed, 200 tonne of guar gum, 195 tonne turmeric, 170 tonne of barley and 78 tonne of jeera staggered delivery. Staggered delivery is used to check any artificial rise in prices. Under this mechanism, sellers can indicate intention of delivery to the exchange during the tender period, currently a 10-day span before the contract expires.
India coffee exports during Jan 1- Jun 13.
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 tonne. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.
All-India cotton arrivals up at 31,600 bales.
About 31,600 bales (1bale=170kg) of cotton arrived in major spot markets across the country on Tuesday, up marginally from 31,000 bales on previous close.
Latest Report on Wheat Daily | Wheat_Daily 20170614.pdf
Latest Report on Wheat Daily | Wheat_Daily 20170614.pdf
Latest Report on Maize Daily | Maize_Daily 20170614.pdf
Latest Report on Maize Daily | Maize_Daily 20170614.pdf
Latest Report on Rice | Rice Daily 20170614.pdf
Latest Report on Rice | Rice Daily 20170614.pdf
CBOT July soybean futures up 1-1/4 cents at $9.32-1/2 per bushel.
CBOT July soybean futures up 1-1/4 cents at $9.32-1/2 per bushel.
ICE July canola down $3.60 to $511.20 per tonne.
ICE July canola down $3.60 to $511.20 per tonne.