U.S corn exports reached 51.31 MMT in the 2017-18 MY.
CBOT Corn rises as US crop ratings decline.
CBOT Corn rises as US crop ratings decline.
NCDEX maize end lower on lack of cues in spot.
NCDEX maize end lower on lack of cues in spot.
Philippine likely to import 580,050 MT of rice in 2018.
Philippine likely to import 580,050 MT of rice in 2018.
Vietnam bids for Bangladesh rice sale auction held on 8 August.
Vietnam bids for Bangladesh rice sale auction held on 8 August.
FCI rice stocks up on export barrier, OMSS failure.
FCI rice stocks up on export barrier, OMSS failure.
Iraq buys 50000 tonnes wheat in tender from Australia.
Iraq buys 50000 tonnes wheat in tender from Australia.
EU wheat prices fall on firm euro, rising crop forecasts.
EU wheat prices fall on firm euro, rising crop forecasts.
Jordan tenders again to buy 100000 tonnes wheat.
Jordan tenders again to buy 100000 tonnes wheat.
NCDEX wheat end lower on lack of cues in spot.
NCDEX wheat end lower on lack of cues in spot.
Nafed to dispose pulses through e-auction.
With a view to disposing of huge stocks of pulses from the last year kharif procurement, Nafed would launch an e-auction platform where traders could sell and buy other agricultural commodities as well. The dedicated portal – www.nafed.agribazaar.com would make things easy for traders to do their business, reports Financial Express. Nafed is preparing customized guidelines for procurement, disposal, and processing of contracts for all the agricultural commodities and food products to be sold through e-platform.
India traders want import cap on moong, urad.
Lentils traders in India have demanded that New Delhi extend to moong and urad the import restrictions that now apply to tur, seeking to ensure sufficiently remunerative prices for the two varieties of pulses. Some traders believe that prices of urad and moong, already ruling much below the state-set levels, will further come under pressure if overseas supplies are allowed to continue. The Commerce Ministry issued a notification, making changes in the import policy of tur (pigeon pea) by putting restriction of 2 lakh tonne in imports during a financial year. The restrictions apply until 2018. Although the trade still awaits clarification on transit cargo in the high seas and bound for Indian shores, it is also of the opinion that the move would protect local farmers. India is likely to harvest a bumper crop of both urad and moong.
Tur jumps 15% as govt caps import, may hit 5,000 rupee/100 kg by Sep.
Tur farmers seem to be breathing a sigh of relief as prices of the pulse have recovered 30% in the past six-seven sessions–15% in just two days since the government capped imports over the weekend. Government had restricted imports of tur to 200,000 tonne per annum, following which prices of the pulse surged by 400-500 rupees per 100 kg to cross 4,300 rupees in major markets. While trading activity remained subdued due to Raksha Bandhan and lunar eclipse, prices of desi tur rose to four-month high of 4,400-4,500 rupees per 100 kg at major trading centres such as Nagpur, Latur, and Akola in Maharashtra.
MMTC invites bids for sale of 3,734 tonne urad, 242 tonne tur.
MMTC Ltd has floated a tender to sell 3,734 tonne urad and 242 tonne tur. The pulses available at Chennai Central Warehousing Corp and National Collateral Management Services warehouse. Bids must be submitted on Aug 16, and opened the same day. The bids remain valid for acceptance till Aug 23.
Govt limits tur import at 200,000 tonne to support prices.
The government has capped import of tur at 200,000 tonne per annum in a bid to to limit the fall in local prices. The restrictions apply until 2018. The import restrictions though not apply to the government import commitments under bilateral trade agreements and other pacts. The move comes in the wake of local tur prices falling to fresh lows due to a large crop. Robust government procurement also did not support prices. There were concerns that domestic prices may fall even further, as Africa is set to harvest a bumper crop this year, and the landed cost of the new African tur crop would be much lower than the domestic price. The government had earlier this year imposed 10% import duty on tur to check the fall in prices. The import duty, however, was not of much help, as tur is imported primarily from Myanmar and African countries, which can circumvent India import taxes due to bilateral pacts.
Chana futures up on NCDEX on demand from dal millers.
Futures contracts of chana rose on the NCDEX owing to improved demand from dal millers and stockists. On the NCDEX, the most-active September contract of chana traded up 0.33% from previous close. The government is planning to lift a decade-long ban on export of pulses, which is also seen supporting prices.
Groundnut acreage 3.5 million ha as of Thu, down 13% on year.
Farmers in the country had sown kharif groundnut across 3.49 million ha as of Thursday, down 12.9% on year. In Gujarat, the largest producing state, groundnut acreage was 1.61 million ha, up 2.6% on year, following favorable rains in the state. However, a fall in area sown under groundnut seed in other key producing states of Andhra Pradesh and Karnataka, following deficit rains, pulled down overall acreage in the country.
NCDEX mustard seed up on export demand for meal.
Mustard seed contracts were up on the NCDEX owing to a pickup in demand for mustard meal from overseas buyers. On the NCDEX, the most-active September contract was trading up 0.81% from previous close. Seasonal demand for mustard oil during the rainy season also supported seed prices.
Soybean acreage 9.9 million ha as of Thu, down 10% on year.
Acreage under soybean across the country was at 9.9 million ha as of Thursday, down 10.4% from the year-ago period. Sowing under soybean fell this year following a decline in acreage in Madhya Pradesh, the largest soybean-producing state, due to poor rains in the last fortnight. In Madhya Pradesh, acreage of the crop was at 4.71 million ha, down from 5.36 million ha in the previous year. The area under soybean in the state is lower so far because farmers chose to sow other remunerative crops such as cotton, urad, and moong, as soybean fetched poor returns in 2016-17.
Soybean contracts up on NCDEX tracking CBOT.
Futures contracts of soybean traded up on the NCDEX tracking the CBOT. The most-active August contract traded up 1.5% from the previous close. Contracts of soybean rose on the CBOT due to short covering by market participants after prices fell last week. Bargain buying by domestic oil millers and crushers after a recent fall in prices also supported contracts of soybean on the NCDEX.