The European Union this week awarded 14,824 tonnes of reduced-tariff imports of wheat of any origin, except Canada and the United States, under an annual quota. The EU also granted 4,000 tonnes of duty-free imports of Ukrainian barley under a separate quota.
Iraq buys Australian wheat from Cargill at $298/mt CFR
The Iraqi Ministry of Commerce bought 100,000 mt of Australian wheat from Cargill at $298/mt CFR.
Haryana seals borders as wheat prices crash in neighbouring states
With huge quantities of wheat from Delhi, Uttar Pradesh and Rajasthan finding its way into Haryana owing to crashing of prices there. The state government ordered sealing of its porous borders with these states. The Palwal grain market, that has proximity to these three states, has been closed for further procurement after it was discovered that 3.73 lakh metric tonne of wheat has already been procured against 2.98 lakh MT purchased during the entire season last year. Some traders in grain markets of Delhi, UP and Rajasthan, where the prices of wheat have dipped Rs 150 to Rs 200 below the MSP, have been making an easy buck by selling wheat purchased from there in our mandis.
South Africa’s 2018 maize output seen up 3 pct on previous estimate
South Africa is expected to harvest three percent more maize in 2018 than previously estimated after late rains in the western part of the maize belt boosted yields. The government’s Crop Estimates Committee (CEC), which will provide its third production forecast for the 2018 crop on Wednesday, is seen pegging the harvest at 12.75 million tonnes, up from the 12.42 million tonnes it forecast in March. Late rains, particularly in western growing areas, have helped yields after an unexpected onset of dry conditions in the key maize-growing provinces of North West and the Free State in January had raised concerns for farmers.
Soybean prices tad up in Akola, unchanged in Indore
Soybean prices were slightly up in Akola due to bargain buying by oilseed crushers. The most active soybean contracts were slightly up tracking gains in the spot. However sharp gains were capped because of weakness in the soybean contracts on CBOT.
Mustard seed at 2-wk high in Jaipur as supply falls
Prices of mustard seed hit a two-week high in Jaipur, Rajasthan, due to a fall in arrivals along with improved demand from stockists. Improved demand for mustard meal from domestic and overseas buyers also supported prices of the oilseed.
Groundnut dn in Rajkot on weak demand; arrivals rise
Prices of groundnut fell in Rajkot, Gujarat, as demand from the cattle feed industry remained lacklustre and arrivals rose. Weak demand from domestic oil millers and overseas buyers also weighed on prices of groundnut seed.