USDA increased its world rice ending stock forecast by 0.398 MMT For 2017/18.
USDA decreased its corn ending stock estimates for U.S by 1.322 MMT for 2017/18.
USDA decreased its corn ending stock estimates for U.S by 1.322 MMT for 2017/18.
CGE of Sri Lanka seeks corn import permit for feed millers.
CGE of Sri Lanka seeks corn import permit for feed millers.
Ukraine starts to export wheat flour to South America.
Ukraine starts to export wheat flour to South America.
CBOT wheat drops 1.2% to two-month low on supply pressure.
CBOT wheat drops 1.2% to two-month low on supply pressure.
Bulgaria exports 433,650 T of wheat from its bumper 2017 crop.
Bulgaria exports 433,650 T of wheat from its bumper 2017 crop.
India wheat OMSS auction update.
India wheat OMSS auction update.
India govt says no plans to raise wheat import duty.
India govt says no plans to raise wheat import duty.
Prices of pulses led by arhar and gram.
Spurted by up to Rs 300 per quintal at the wholesale market during the week amid pick-up in demand from retailers, driven by ongoing festive season against restricted arrivals from producing belts. Uptick in demand from retailers in view of festive season against tight stocks position in the market on fall in supplies from growing regions, mainly pushed up arhar, gram, urad and other pulses prices.
Peas edge up on scattered demand.
Barring a rise in peas prices on mild demand from retailers, other pulses held steady at the wholesale pulses market in thin trade. Traders attributed the rise in peas prices to scattered demand from retailers.
USDA Predicts Record Soybean Crop.
A record number of soybean acres planted this spring is projected to produce a record soybean harvest this fall despite challenging growing conditions across large sections of the Midwest. U.S. soybean production was pegged at 4.38 billion bushels, an increase of 2 percent from last year record setting output of 4.3 billion bushels. Harvested acres were projected at 88.7 million acres, up from 83.5 million in 2016. A record number of soybean acres planted this spring is projected to produce a record soybean harvest this fall despite challenging growing conditions across large sections of the Midwest. The large projected crop could shrink due to worsening drought conditions in key soybean growing regions, including Iowa and North and South Dakota. Iowa soybean harvest is projected at 557 million bushels on a per-acre average of 56 bushels. This is down from last year production of 572 million bushels and a 60.5 bushel-per-acre average. Crop conditions have deteriorated in many locations since the USDA completed its yield assessment.
EU. Forecast for oilseed production was raised.
EU oilseed production in the 2017/18 season from 32.06 MMT to 33.03 MMT. The 2017/18 EU crop include 21.91 MMT of rapeseed (up 8% year-on-year), 8.5 MMT of sunseed (up 3%) and 2.62 MMT of soybeans (up 5.9%). The forecast for rape plantings increased from 6.60 Ml ha to 6.65 Ml ha (up 2% year-on-year), while that for soya plantings was raised from 0.95 Ml ha to 0.97 Ml ha (up 14.7% year-on-year). Sunflower planted acreage remains at last year level 4.13 Ml ha (up 1.1% from last season).
Telangana farmers take to cotton in a big way insted redgram, chilli and turmeric Last year.
The increase in the extent of cotton cultivation this kharif in Telangana, up by over 26.5% compared to last year, has made the State government plan arrangements for the procurement of the fibre crop well in advance, keeping in mind the experience it had last year in the case of redgram, chilli and turmeric. The Agriculture Department has put the extent of cotton cultivation this season at 17.84 lakh hectares, more than half of the 34.42 lakh hectares covered by all crops so far, against 14.10 lakh hectares last year.
Refined palmolein surges on rising demand.
Refined palmolein surged further at the Vashi oils and oilseeds wholesale market here on rising demand from retailers. While, castor seeds bold and castor oil commercial recovered slightly following mild offtake from shippers and soap industries. Groundnut oil and linseed oil maintained a stable trend due to lack of any large-scale buying.
Edible oil to become costlier by 4-5% on import duty hike.
Edible oil and oilseeds are likely to become costlier by 4-5 per cent due to the government decision to raise import duty on crude and refined oil, with immediate effect.
Govt hikes import duty on crude, refined palm oil.
Crude palm oil to 15 per cent from 7.5 per cent. Refined to 25 per cent from 15 per cent. Soya and sunflower have been raised to 17.5 per cent from 12.5 per cent. The hike in import duty of crude and refined palm oil will help restrict cheaper imports from Malaysia and Indonesia and benefit farmers which are in distress due to fall in prices of oilseeds below minimum support price because of bumper production.
Brazil produces record amount of sugar in the 2nd half of July.
Brazil center-south region produced 3.41 million tonnes of sugar in the second half of July, the most for a 15-day period, as very dry weather allowed mills to work around the clock in the world largest cane belt. Mills allocated 50.33 percent of the cane to sugar production in the second half of July, versus 48.05 percent a year earlier.
Pakistan banks asked to start sugar export process.
The State Bank of Pakistan (SBP) has asked authorised dealers (banks) to start processing applications for sugar exports. The SBP issued a circular that the process begins as per the instruction given by the Ministry of Commerce on July 2 for the export of 300,000 tonnes of sugar. Sugar mills are not satisfied with the limit of 300,000 tonnes set by the Economic Coordination Committee of the cabinet. They claim there is a glut-like situation in the domestic market. They demand that the limit on the export volume of sugar should be enhanced. Sugar prices recently increased in the domestic market as some parts of the country suffered shortages of the commodity. The SBP advised the authorised dealers to forward the requests of sugar mills to the director of the central bank Foreign Exchange Operations Department (FEOD) for approval.
India no plans for duty-free sugar imports.
Food and Consumer Affairs minister Ram Vilas Paswan has said that the country has sufficient sugar supply and there was no need to import it.The government was keeping a watch on pulses price and would increase import duty if required.
India Sugar weak conditions were seen at the wholesale sugar.
Weak conditions were seen at the wholesale sugar market in the national capital during the week with prices falling on persistent supplies from mills amid expectations of a cut in import duty by the government to improve availability in the market to meet festive season demand and curb speculative rise.