Cotton, corn area up in Maharashtra but erratic rains raise concern.
Ram Gopal Yadav (8 years ago)

With adequate pre-monsoon showers in Maharashtra, sowing of key kharif crops, particularly cotton, maize and soybean, has increased sharply. Erratic rainfall in the last couple of days in some regions in the state is likely to raise concerns over the growth of the early sown crop. Cotton acreage in Maharashtra, the second-largest producer, rose a sharp around 203% on year to 332,308 ha as on Friday because of higher returns in the ongoing season.

NCDEX coriander down on profit booking, high supply.
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander on the NCDEX were down, as traders booked profits after prices rose to a three-week high of 5,280 rupees per 100 kg on previous close. The most-active July contract was at 4,980 rupees per 100 kg, down 0.4% from the previous settlement. The fall in prices was also because arrivals in Rajasthan increased to 7,000 bags (1bag=40kg), up 1,500 bags the previous day. In Ramganj, a key wholesale market, the Badami variety of coriander was sold at 5,900 rupees per 100 kg, while the Eagle variety was quoted at 6,100 rupees, both down by 100-150 rupees from previous close.

Bangladesh issues tender to import 50,000T of rice.
Ram Gopal Yadav (8 years ago)

Bangladesh state grains buyer issued its fourth international tender since May, looking to import 50,000 tonnes of parboiled rice as it grapples with depleted stocks and record local prices. The deadline for offers is July 9, with the rice to be shipped within 40 days of signing any deal. Growing demand from Bangladesh will help stoke Asian prices. Ataur Rahman, additional secretary at the food ministry, told Reuters last week, that country import 200,000 tonnes of white rice at $430 a tonne and 50,000 tonnes of parboiled rice at $470 a tonne from Vietnam in a government-to-government deal. Those rates are sharply higher than what it has been paying through previous tenders. Bangladesh is buying 50,000 tonnes of white rice at $406.48 a tonne and 100,000 tonnes of parboiled rice at $427.85 and $445.11 a tonne through tenders.

Russian corn exports shrank in April.
Ram Gopal Yadav (8 years ago)

Russia Corn exports turned down in April 2017, supplied 307.7 KMT of corn to foreign markets. Half of previous month (622.7 KMT was in March 2017) and in April 2016 (677 KMT). In the first eight months of MY 2016/17, Russia exported 4.2 MMT of corn, or 8% more than at the same time last marketing year. The European Union remains the top importer of Russian corn with a market share of 20%. Vietnam and Iran also managed to enter the top three at this time, with their export shares at 19% and 18%, respectively.

CBOT corn at 3-week low on improved weather outlook.
Ram Gopal Yadav (8 years ago)

Corn fell for a fourth consecutive day to a three-week low on an outlook for favorable weather across the U.S. Midwest during the crop critical phase of development. CBOT Corn up 0.1 percent to $3.68-1/4 a bushel, after earlier in the session marking its weakest since June 1 at $3.67-3/4 a bushel.

India maize spot prices up on robust demand, low supply.
Ram Gopal Yadav (8 years ago)

Futures contracts of maize fell on the NCDEX due to profit booking as prices had risen in the past three sessions tracking the spot market. July contract traded down 0.2% from the previous close. The good quality maize and the poor quality crop traded up 20 rupees from previous close. Arrivals of the coarse grain were at around 1,000 tonne, lower than the average arrivals of 2,000 tonne last week.

Iran Exporting 3 Million Tonne of Surplus Wheat.
Ram Gopal Yadav (8 years ago)

Exports of flour and wheat byproducts have been made to Oman, Iraq, Afghanistan and Turkey while talks are underway with other countries, including Egypt, for such exports. About 500,000 tons of wheat from a total of more than 1 million tons offered on Iran Mercantile Exchange have been bought by producers and factory owners. The wheat offered on IME is sold at export prices, which are lower than those in the domestic market, under the condition that the purchased crop be processed into flour or byproducts and then exported.

CBOT Wheat eases.
Ram Gopal Yadav (8 years ago)

Wheat contract declined 0.4 percent to $4.62-1/2 a bushel, having closed down 1.7 percent on previous close. Chicago wheat futures slid for a second session as the market took a breather after climbing to a one-year high earlier this week, with traders pausing to assess damage from unfavorable weather across the United States and Europe.

India wheat prices up on firm demand from millers.
Ram Gopal Yadav (8 years ago)

Prices of wheat in the key wholesale market of Indore in Madhya Pradesh rose due to firm demand from flour-millers. The mill-quality wheat up 10-20 rupees from previous close. Arrivals to the market were around 8,000 bags, each with 100 kg of the grain, higher than the average arrivals of 2,000-3,000 bags in the last few days. In Delhi, the grain was unchanged.

India rice flat in spot markets.
Ram Gopal Yadav (8 years ago)

Prices of rice remained unchanged in the major markets. In Karnal, Haryana, 1121 basmati sella rice was quoted at 5,300-5,400 rupees per 100 kg, while permal raw variety non-basmati rice traded at 2,800 rupees per 100 kg.