Corn futures are currently 1 to 2 cents higher after settling 5 to 5 cents lower
Ram Gopal Yadav (6 years ago)

Some bulls were giving up, with preliminary open interest -13312 contracts on the day. The bulk of that was in September, with options expired and FND on Friday. NASS showed 68% of the corn in good or excellent condition, while the Brugler500 Index was up 1 point to 373. The big acreage states showed slight improvements in ratings last week. Overall ratings typically decline a notch or two each week in August. A Farm Futures survey of producers shows expected 2019 acreage of 90.8 million acres. That is up more than 1.7 million acres from 2018, but those intentions will likely change over the next 7-8 months.

Kharif tur area unchanged on yr at 4.38 mln ha
Ram Gopal Yadav (6 years ago)

India’s tur acreage was at 4.38 mln ha, largely unchanged from the previous year. Although area under tur fell by 4.2% on year in Maharashtra, the largest producer, and was 3.4% lower in Madhya Pradesh, another major grower of pulses, a rise in acreage under the pulse in the southern state of Karnataka has compensated for the loss. Area under tur in Karnataka as of Wednesday was up 16.5% on year at 966,000 ha as the state received good rainfall.

Kharif paddy area tad dn on yr at 35.7 mln ha
Ram Gopal Yadav (6 years ago)

Acreage under paddy crop across the country this kharif season was at 35.7 mln ha. The area under paddy was, however, higher than the average 35.4 mln ha for the period. Also, the lag in acreage has reduced from 3% a fortnight ago. The slight fall in acreage can be attributed to lower sowing in key producing states of Assam, Bihar and Jharkhand, where weak monsoon rains hit planting. Paddy is a water-intensive crop and requires bountiful rains during sowing and transplantation of saplings from nursery to the fields. Paddy sowing was also lower on year in Punjab at 3.04 mln ha.

IGC cuts 2018-19 global wheat output view by 16 mln tn to 721 mln tn.
Ram Gopal Yadav (6 years ago)

The International Grains Council has lowered its estimate for global wheat production for 2018-19 to 721.0 mln tn from 736.8 mln tn seen in its previous report. A record 758.1 mln tn wheat was produced globally in 2017-18. The forecast for 2018-19 has been slashed mainly because output in Russia, Ukraine, China, European Union and Australia is seen falling. Unfavourable weather conditions in key wheat growing regions of the world is expected to lead to a decline in output. Following a reduction in output projection, global wheat inventory in 2018-19 is also seen down at 247.2 mln tn from 255.6 mln tn forecast earlier. The agency has slashed its estimate for global wheat imports in 2018-19 marginally to 176.0 mln tn from 176.5 mln tn seen earlier. India’s wheat imports in 2018-19 are seen at 900,000 tn, unchanged from the projection made in July. It also maintained the country’s wheat output estimate for 2018-19 at 95.5 mln tn. The agency had estimated the country’s wheat production in 2017-18 at 98.5 mln tn.

Source says FCI sold 95,450 tn of wheat in 5th open mkt sale of FY19
Ram Gopal Yadav (6 years ago)

Food Corp of India sold 95,450 tn of wheat in the fifth round of auctions under the open market sales scheme for 2018-19 (Apr-Mar). The state-run agency had offered 2.2 mln tn of the food grain in the auction. Food Corp of India holds auction of wheat for sale under the open market sale scheme, where bulk buyers like flour mills, bakery product manufacturing companies usually purchase. In Punjab and Haryana, most of the quantity was sold at 1,900 rupees per 100 kg in. In Madhya Pradesh, it was sold at 1,912 rupees. In Punjab, Haryana and Madhya Pradesh, response to the wheat auction has higher from the last round of tenders. The agency had sold 95,150 tn of wheat in the fourth round of auctions that was held on Aug 9.