India wheat down in spot markets on weak demand.
India govt have 285,100 tn surplus wheat seed for 2017-18 rabi.
India govt have 285,100 tn surplus wheat seed for 2017-18 rabi.
Maharashtra pegs 2017-18 tur output dn 43% on low area.
Tur output in Maharashtra for 2017-18 (Jul-Jun) is seen falling 43.3% on year to 1.15 million tonne due to lower acreage and yield. The tur output in the state in the year-ago period was at a record 2.04 million tonne. Farmers have covered lesser area under the pulse this season as tur prices traded below the minimum support price of 5,450 rupees per 100 kg including a bonus of 200 rupees.
Indian pulses outpriced in world mkt; exports may take time to begin.
The Centre may have lifted its more than a decade-long ban on export of pulses, but shipments from India take time to start as the domestic produce is out-priced in the global market. There is no parity (in prices) to export pulses currently, particularly in tur as (the) Burmese origin is much cheaper than local rates and Indian exporters can export only after 7-8 months. Tur from Burma is being sold at 2,500 rupees per 100 kg compared with the domestic prices of 4,000 rupees. In the global market, Burmese tur is being sold for $450 per tonne, while urad of the same origin fetches $625 per tonne, cost and freight basis. Moong from Tanzania is priced at $600 per tonne.
Tur down in Akola on weak demand; Kalaburagi shut.
Prices of tur in Akola, Maharashtra, declined as demand from millers fell. NAFED sold the pulse at lower rates of 3,800-4,000 rupees per 100 kg in the market which also created bearish sentiment.
Farm secretary says 2017-18 tur production seen tad down on year.
India’s tur production for 2017-18 is likely to be slightly lower on year. The farm ministry, in its fourth advance estimate released in August, had predicted India’s 2016-17 tur output at 4.78 million tonne. Tur output is expected to come down slightly, but output of urad is seen higher from last year. A significant decline in area under tur so far is likely to pull down output for the pulse this season but higher acreage under urad is seen raising production. The area under tur crop fell nearly 18% on year to 4.3 million ha as of last week, and that under urad was at 4.26 million ha, up 21% on year.
NAFED begins procuring 2017-18 kharif moong to boost domestic prices.
To boost prices of moong in the domestic market, the National Agricultural Cooperative Marketing Federation of India last week started procuring the crop sown during the kharif season this year. NAFED has started procuring it on minimum support price from farmers in Telangana and Karnataka.
Chana steady in Delhi on demand-supply parity.
Prices of chana were steady in Delhi as supply was sufficient to meet demand. In Bikaner, prices of chana were also steady while arrivals were pegged unchanged at 300 bags (1bag=100 kg).
Supply of seed for chana crops ample for rabi season.
Supply of wheat seed, chana seed and mustard seed is seen in sufficient quantity for upcoming rabi sowing season. The country currently has stock of chana seed is at 192,600 tonne, 21,000 tonne more than required. Govt have Lentil seed 100 tonne short of requirement for rabi sowing. Around 13,600 tonne of lentil seeds is currently available in the country for sowing.
Food Corp to auction 3,977 tonne moong via NCDEX e-Mkts.
Food Corp of India offer 3,976.80 tonne of moong for auction through NCDEX e-Markets. The pulse is stocked at Central Warehousing Corp and other godowns in Rajasthan, Maharashtra, and Gujarat.
Argentina govt source sees country’s FY18 soybean output rising 6%.
Soybean production in Argentina is seen rising over 6% to 58 million tonne in 2017-18 (Apr-Mar) due to likely favourable weather. The country is estimated to have harvested around 55 million tonne soybean in 2016-17. Weather is seen largely conducive this year and farmers in the South American country may also increase acreage of the crop, which may boost output further. Soybean acreage is estimated at 19 million ha in 2017-18, higher than 18 million ha a year ago. Stocks of the commodity at the end of 2016-17 are estimated at 4.9 million tonne, lower than 5.6 million tonne at the end of the preceding year.
India Govt have 2,400 tonne surplus mustard seed for rabi sowing.
Supply of mustard seed is seen in sufficient quantity for upcoming rabi sowing season. Mustard seed for rabi sowing is also estimated at 24,200 tonne, 2,400 tonne more than the estimated requirement.
Maharashtra pegs 2017-18 soybean crop at 3.6 million tonne vs 4.6 million tonne.
Output of soybean is estimated at 3.6 million tonne, down 22.7% on year. Yield in the state is estimated to decline because of erratic monsoon in pod filing stage in August. The overall output of oilseeds in the state is seen at 3.82 million tonne, against 4.89 million tonne in 2016-17.
Brazil Raw sugar futures slide 3.6 % on improved crop weather.
October raw sugar settled down 0.55 cent, or 3.8 percent, at 14.37 cents per lb, after falling to a two-week low of 13.72. Sell stops were triggered as raw sugar futures crossed below the 40-day moving average at 14.65 cents per lb. Expectations of rain arriving in top-producer Brazil after recent dry weather pressured the market. December white sugar settled down $11.90, or 3.2 percent, at $365.00 per tonne.
Sugar prices up in north India on low level buying.
Prices of sugar rose in markets in northern India because demand improved at lower prices. Lower offerings from mills also supported prices of the commodity. In Maharashtra, however, prices were remained unchanged amid thin sales.