Russia to export 200,000 tn wheat to Bangladesh.
Australia, Ukraine wheat prices down on global glut.
Australia, Ukraine wheat prices down on global glut.
Tunisia tenders to buy 100000 MT soft milling wheat.
Tunisia tenders to buy 100000 MT soft milling wheat.
NCDEX to levy 5% additional margin on chana.
The National Commodity and Derivatives Exchange impose a 5% additional margin on chana on both buy and sell positions from Friday. The margin imposed on all running and yet to be launched contracts. The most active September contract of chana on NCDEX ended down 1.3% from the previous close.
MMTC to auction masoor, tur via NCDEX e-Markets.
MMTC offer 10,992.06 tonne of masoor imported from Canada and 1,846.97 tonne of tur imported from Kenya and Mozambique for auction through NCDEX e-Markets. The pulses are stocked at warehouses in West Bengal, Gujarat and Maharashtra.
Food Corp to auction masoor, chana via NCDEX e-Markets.
The Food Corp of India will offer 46.37 tonne of masoor and 4.20 tonne of chana for auction on Thursday through NCDEX e-Markets. The pulses are stocked at warehouses in Maharashtra and Madhya Pradesh.
Tur down in Gulbarga on weak demand from millers.
Prices of tur in Gulbarga, Karnataka, were down because of weak demand from dal millers. Arrivals were steady at 5,000-6,000 bags (1 bag = 100 kg). In the benchmark market of Akola, prices were steady, as low demand offset a decline in arrivals.
ICE raw sugar down due to higher output in Brazil.
Futures contracts of raw sugar on ICE fell due to higher output of the sweetener in Brazil. The most-active October contract was down 0.6% at 13.74 cents per pound.
Centre-South Brazil Aug 1-15 sugar output 3.16 million tonne, up 6% on year.
Mills in Brazil’s Centre-South region produced 3.16 million tonne of sugar in the first fortnight of August, up 6% compared with 2.98 million tonne in the year-ago period. Centre-South Brazil accounts for over 90% of the country’s total sugar output. Mills in the region crushed 45.29 million tonne of cane during Aug 1-15, up 0.3% on year. The Centre-South region also produced 13.52 bln ltr of ethanol during the period, compared with 14.82 bln ltr in the year-ago period. Of the total cane crushed, around 48.7% was used for sugar production, while 51.3% was used to make ethanol. Mills in the region are likely to produce 35.2 million tonne of sugar this season, compared with 35.6 million tonne in 2016-17 (Apr-Mar).
Sugar prices down in Mumbai on stock cap imposition.
Prices of sugar fell in the key wholesale markets of Mumbai as implementation of stock-holding limit on mills dampened the sentiment. Sugar stocks in north India are already quite low. Stock limits would ensure slower release by the mills now. The government has imposed stock holding limits on sugar mills for September and October. Sugar mills can hold up to 21% of the total sugar supply of 2016-17 (Oct-Sep) season as of end of September, and 8% of the supply as of end of October.
Indore soy down on high arrivals, good crop condition.
Soybean prices in benchmark Indore market was down because of increased arrivals. Arrivals of the oilseed increased on fear of further fall in the prices. Soybean prices are declining in the last few days because of improved crop condition due to recent favorable rains in major growing areas. Futures contract of soybean on the NCDEX also traded lower following spot prices. The most-active October contract traded down 1.1% from previous close.
Jaipur mustard seed down on low demand from millers.
Prices of mustard seed fell in Jaipur because of subdued demand from oil millers. On the NCDEX, the most-active September futures contract of mustard seed were unchanged. In Jaipur, the benchmark market, the oilseed was quoted down 20 rupees from previous close.
India Jul mustard seed crushing unchanged on month at 550,000 tonne.
Oil mills in the country crushed 550,000 tonne of mustard seed in July, largely unchanged from a month ago. The quantum of mustard crushed was largely unchanged in July because of absence of significant demand from oil millers. Oil mills have crushed about 3.5 million tonne of mustard seed since the start of the crushing season in February compared to total arrivals of 3.8 million tonne during the period.
India Soybean ends down 1% on improved weather, CPO up.
Futures contracts of all the components of the edible oil basket, barring soybean, traded higher on domestic exchanges. Soybean futures on the National Commodity and Derivatives Exchange closed about 1% down due to improve in weather conditions in key growing areas of Madhya Pradesh and Maharashtra, the top growers. Recent rains and forecast of more showers in coming days after rounds of dry spells in major growing areas boosted hopes of recovery in yields. Higher arrivals of the oilseed in Madhya Pradesh also weighed on the sentiment.
NAFED resumes sunflower seed purchase in Telangana, buys 115 tonne.
The National Agricultural Cooperative Marketing Federation of India has resumed procurement of sunflower seed in Telangana after it had wound up operations in May-end. The agency procured 115 tonne of sunflower seed under the price support scheme in the state on its first day. The procurement drive is underway at the Medak procurement centre. The agency has also started procurement of groundnut in Odisha and bought 282 tonne on its first day on Tuesday under the price support scheme.
NCDEX chana down on weak demand from millers.
Futures contracts of chana fell on the NCDEX because of weak demand from millers. The most-active September contract traded down 0.3% from the previous close.