Maharashtra plans to e-auction 5,966 tonne paddy from 2015-16 crop.
Ram Gopal Yadav (8 years ago)

Maharashtra has decided to sell 5,966 tonne unmilled paddy from 2015-16 crop. The state government has appointed a panel which oversee and complete the e-auction within 30 days. The state had procured 15,102 tonne paddy from Thane, Raigad and Singhudurg districts out of total 343,168 tonne it had purchased in the entire state under price support scheme in 2015-16. Around 9,135 tonne paddy, procured in Konkan region, had already been milled and 5,966 tonne of unmilled paddy would now be sold via electronic auction.

Zambia FRA to sell 100,000 tonnes of maize.
Ram Gopal Yadav (8 years ago)

FOOD Reserve Agency (FRA) has designated to sell 100,000 tonnes of maize from the national strategic food reserve during the 2016/17 season to create space for the commodity to be purchased later this year. Zambia is expected to harvest 3.6 million tonnes of maize this season but FRA only buy 500,000 tonnes of maize and 2,100 tonnes of paddy rice during the 2017/18 crop-marketing season.

India Maize prices up in spot, futures market on low arrivals.
Ram Gopal Yadav (8 years ago)

Maize prices rose in Bihar Purnea market due to firm demand amid low arrivals. Good-quality maize was sold in Purnea up 10 rupees from the previous trading day. Prices have risen by 50 rupees in the last five days as very less crop is left in the market now. Average arrivals have reduced to 10-15 trucks (1truck=15tonne), against an average of around 400 trucks in the peak season.

CBOT wheat Up 8 to 12 cents per bushel.
Ram Gopal Yadav (8 years ago)

Higher on strength in Minneapolis Grain Exchange (MGEX) spring wheat futures tied to forecasts for more stressful weather in the northern U.S. Plains. Front-month CBOT wheat touched its highest level since November 2015 in early moves. MGEX wheat set across-the-board contract highs, with most-active September reaching $8.12-3/4 a bushel before paring gains.

Only two take parts in Iraq tender for 50,000 tonnes of hard wheat.
Ram Gopal Yadav (8 years ago)

Only two trading houses submitted offers in the tender from Iraq state grains board to buy at least 50,000 tonnes of hard wheat. The lowest offer was $318.77 a tonne c&f free out for wheat sourced from Australia. Only Australian and US wheat was offered in the tender. The single offer for Australian wheat was made for 50,000 tonnes.

India coffee exports during Jan 1- Jun 29.
Ram Gopal Yadav (8 years ago)

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.

Global cocoa and arabica coffee prices seen rising.
Ram Gopal Yadav (8 years ago)

The global prices of cocoa, and arabica coffee are expected to rise in the near term. In the coming year, cocoa prices are likely to recover moderately due to higher demand. Prices had slumped earlier due to higher production in Brazil. The prospect of another deficit on the coffee market should support its prices. The 2017-18 coffee harvest in Brazil started in April. It is taking longer to dry the beans due to excessive rain.

MCX cotton up on global cues, low spot arrivals.
Ram Gopal Yadav (8 years ago)

Futures contracts of cotton were up on the MCX due to a rise in cotton futures on ICE and lower arrivals in spot markets. On MCX, the July contract of cotton was at 20,010 rupees per bale (1 bale = 170 kg), up 0.5% from the previous close, while the most active December contract on ICE was at 67.3 cents per pound, up 0.1%.

Cotton Outlook raises year to Jul global output, demand projections.
Ram Gopal Yadav (8 years ago)

UK-based Cotton Outlook has raised its forecast for global cotton output in 2017-18 (Aug-Jul) to 24.72 million tonne from 24.49 million tonne projected in May. Output in the coming season is projected to be higher mainly due to increased crop in Brazil and Turkey. The agency has also increased its estimates for global cotton consumption during the year, to 24.55 million tonne from 24.45 million tonne in the previous month. Consequently, global stock levels are now expected to rise to 173,000 tonne, compared with a forecast of 44,000 tonne in May.

NCDEX cotton oilcake up tracking gains in spot market.
Ram Gopal Yadav (8 years ago)

Futures contracts of cottonseed oilcake traded higher on the NCDEX today tracking gains in spot prices. The most-active August contract traded up 1% at 1,649 rupees per 100 kg on the NCDEX. Bargain buying after prices declined to a 20-month low in recent sessions also pushed prices higher. Cottonseed oilcake, a derivative of cotton, is used as animal feed. In the benchmark market of Akola, Maharashtra, the commodity traded at 1,650 rupees per 100 kg, up 10 rupees from previous close. The overall sentiment for the commodity, however, remained bearish due to sluggish demand and sufficient supply.