Excess moisture threatens 34% of Argentina 2017/18 wheat crop.
Egypt permits 13.5% moisture limit in wheat for additional nine months.
Egypt permits 13.5% moisture limit in wheat for additional nine months.
Russia wheat export too slow to hit forecast level.
Russia wheat export too slow to hit forecast level.
Fall in Russian milling wheat prices.
Fall in Russian milling wheat prices.
U.S. corn jumps 3.5%, joining broad commodities rally.
U.S. corn jumps 3.5%, joining broad commodities rally.
Cargill estimates Brazil to export 5 million tonnes of corn in Aug.
Cargill estimates Brazil to export 5 million tonnes of corn in Aug.
Korea corn processing industry association purchased about 60,000 MT corn.
Korea corn processing industry association purchased about 60,000 MT corn.
Dry spell in south to trim India kharif maize crop by 1 MMT.
Dry spell in south to trim India kharif maize crop by 1 MMT.
Madhya Pradesh traders fear rains may hit maize crop.
Madhya Pradesh traders fear rains may hit maize crop.
Tur prices down in Akola tracking weakness in chana.
Prices of tur in Akola were down, tracking weakness in chana prices, and due to a revival in monsoon rains in key growing areas. Lower demand for tur from dal millers is also seen weighing on sentiment.
India OKs tur import from Myanmar.
India, which had capped import of tur at 200,000 tonne earlier this month, has now relaxed the curbs for tur consignments coming from Myanmar for which advance payments had been made prior to the restriction. Tur import consignments from Myanmar for which advance payments were made before Aug 5, and invoices and payment documents have been authenticated by the Myanmar government and banks, allowed to come in despite the import cap. The relaxation comes as a relief to Burmese pulses exporters, which have sold large quantities of tur to India. On Aug 5, India had capped import of tur at 200,000 tonne per annum to check the fall in local prices following a bumper harvest of pulses in 2016-17. The import cap, in effect, was a ban on further imports of tur, as India had imported close to 250,000 tonne of tur during Apr-Jul. The import restrictions on tur are not applicable to imports under bilateral trade agreements.
NCDEX Chana futures slide 2.48% on weak demand.
Chana prices were traded lower by 2.48 per cent in futures market as speculators reduced their exposure, driven by easing demand in the spot market against adequate stocks. At the National Commodity and Derivatives Exchange, chana for delivery in September moved down by Rs 157, or 2.48 per cent. Cutting down of positions by traders owing to subdued demand in the physical market against enough stock position primarily led to the decline in the chana prices.
Rajkot Tur dal prices improved due to short supply.
Market delivery prices of food grains and pulses at Rajkot in India western state of Gujarat opened on a mixed trend. Bajri prices eased due to low retail demand. Tur Dal prices improved due to short supply. Arrivals-transactions at market yard are low. It resumed after 10 days as commission agents called off their strike.
Russia oilseed stocks are up 23.5% year-on-year.
As of August 1, 2017, Russian growers held 440.8 KMT of oilseeds, or 84 KMT (23.5%) more than at the same time last year (356.8 KMT). Oilseed stocks decreased 75.9 KMT in July. Grower sunseed inventories totaled 176.1 KMT, or 25.8 KMT (17.2%) more than at the same time last year (150.3 KMT). Sunseed stocks decreased 113.5 KMT in July.
Ukraine exported a record 4.5 MMT of sunmeal.
Sunmeal exports from Ukraine totaled 384 KMT in July 2017 that was the largest volume for this month. The pace of export sales slowed down to some degree against June 2017 (-2%), though being up 50% year-on-year. In general, they remain at a record level in the current season. So, 4519 KMT of sunmeal was supplied to foreign markets during the eleven months of MY 2016/17, or 26.6% more than at the same time last season (3570 KMT).
Ukraine sunseed 199.2 KMT harvested by August 31.
199.2 KMT of sunseed with a yield of 1.53 MT/ha was harvested by August 31 from 130 Th ha (2% of the planned). On the same date of last year 297 KMT of sunseed was received from 131 Th ha with a yield of 2.25 MT/ha.
Russian soybean exports down 22% this season.
Soybean exports from Russia totaled 26.1 KMT in July 2017 against 20.8 KMT in the previous month and 22 KMT in July 2016. Overall, 346.2 KMT of soybeans were exported in September-July 2016/17, or 22% less than at the same time last season. As before, soybean exports are hampered by strong domestic demand for soybean products. This season, Russia exported soybeans for the first time to Iran (5% of total exports) and Mongolia (0.2%).
Indore soybean down on poor demand from millers.
Soybean prices in Indore fell because of weak demand from millers and in anticipation of a good crop this season. Demand for soybean from millers is very low right now, as prices of soyoil rose in the past few days. Millers will go under losses while crushing soybean into soyoil. Anticipation of good crop this kharif season after adequate rains hit the soybean growing belt of Madhya Pradesh also pulled down prices of the oilseed.
Mustard up in Jaipur on seasonal demand for oil.
Prices of mustard seeds rose in the wholesale markets of Jaipur due to an increase in demand of mustard oil during monsoon. A fall in arrivals coupled with improved demand from domestic oil millers and crushers supported prices. Export demand for mustard meal further aided the rise in domestic market.
NSI seeks patent for bio-detergent from bagasse.
The government-run National Sugar Institute (NSI) has filed an application for patent rights for its innovative technique to develop bio-detergent from bagasse, the residue left after the extraction of juice from sugar cane. Since no chemical was used in preparing the detergent powder from bagasse, it was safe for skin and environment because it did not discharge any harmful waste. Use of bagasse for detergent has now provided a fresh option of earning.