Maize prices remained unchanged in Bihar Purnea market but traders fear that prices of new crop may fall in coming days as the state has been lashed by rains and hailstorm. The situation is bad, rains may deteriorate the quality of crop lying in fields.it only support the prices of stocked maize which is very few in quantity. India Meteorological Department forecast, squall and thunderstorm are likely to continue in Bihar on Thursday. Amid fears of crop damage, future contracts of maize gained on the NCDEX and June contract ended up 0.2% from previous close.
NCDEX wheat ends up as supplies fall; spot prices down.
Wheat futures on NCDEX traded higher for the sixth consecutive session due to declining arrivals in spot markets. June contract on the NCDEX ended up 0.8% from previous close. wheat prices were down in major wholesale markets due to subdued buying by bulk buyers and stockists. Mill quality wheat sold in Delhi, down 10 rupees and in Indore, down 20-30 rupees from previous clsoe. In Kota market prices remained unchanged.
Govt May 1 wheat stock down 11.8% on year at 27.7 million tonne.
The government had 27.7 million tonne wheat in its stocks at the beginning of this month, down 11.8% from 31.4 million tonne a year ago. The stocks are down despite a bumper crop this year as lower output in last two years had taken the government stocks to a multi-year low of 9.4 million tonne in March. The procurement target is higher as India’s wheat production in 2016-17 (Jul-Jun) is seen at 97.4 million tonne, up from 92.3 million tonne a year ago. So far, 28 million tonne wheat has been procured across the country, up nearly 24% on year.
Indian coffee exports, in tonne.
The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonne, up from 327,000 tonne produced a year ago, but down from previous estimate of 350,000 tonne. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.
Groundnut seed up in Rajkot on demand from millers.
Groundnut seed up in Rajkot on demand from millers.
Nov-Apr sunflower oil import 1.18 million tonne vs 771,088 tonne year ago.
Nov-Apr sunflower oil import 1.18 million tonne vs 771,088 tonne year ago.
NCDEX mustard seed down as investors book profits.
NCDEX mustard seed down as investors book profits.
Mustard seed prices up in Jaipur on renewed demand.
Mustard seed prices up in Jaipur on renewed demand.
CBOT soybean up as supply from Brazil seen weak.
CBOT soybean up as supply from Brazil seen weak.
NCDEX soybean at over 5-year low on low meal demand.
NCDEX soybean at over 5-year low on low meal demand.
NCDEX soybean down over 1% on weak spot prices.
NCDEX soybean down over 1% on weak spot prices.
NCDEX marks 2,870 tonne soybean for staggered delivery.
NCDEX marks 2,870 tonne soybean for staggered delivery.
Akola tur down on weak demand from dal millers.
Akola tur down on weak demand from dal millers.
Chana down in Delhi on high supplies, low demand.
Chana down in Delhi on high supplies, low demand.
NCDEX barley at 14-month low on higher stock, spot cues.
NCDEX barley at 14-month low on higher stock, spot cues.
Barley prices at 2-week low in Jaipur as supply rises.
Barley prices at 2-week low in Jaipur as supply rises.
Paddy Procurement robust in chhattisgarh and odisha.
Union Ministry of Consumer Affairs, Food and Public Distribution has stated that paddy procurement is already robust in Chhattisgarh and Odisha. The procurement target from the eastern States by the end of Kharif Marketing Season (KMS) 2017-18 is 155.93 Lakh MT. Presently, the figure stands at 53.65 Lakh MT for KMS. In consultation with the States it was decided to procure 330.00 lakh MT of wheat during Rabi Marketing Season 2017-18, which is considerably more in comparison with the last season actual procurement of 229.61 lakh MT. The State government decided to purchase 65 lakh metric tonnes of paddy during the Kharif Marketing Season for year 2016-17. Chhattisgarh stood second in the country in Kharif season 2015-16 among a list of 18 states with targetted procurement of 36 lakh metric tonnes of paddy crop during 2015-16 as per information made available by the Central Government in that year where Punjab ranked first with paddy procurement target of 82 lakh metric tonnes.
Sugar prices unchanged in major markets in thin trade.
Prices of sugar were unchanged in the key wholesale markets of Mumbai and Muzaffarnagar in thin trade. In Muzaffarnagar and Mumbai, sugar was unchanged from previous close. There was no bulk demand for sugar in the market, only day-to-day demand is keeping prices steady. On the NCDEX, the most active July contract of sugar traded up 0.5% from the previous close.
Burkina Faso 2017-18 cotton output seen up 17%.
Cotton production in Burkina Faso, a West African country, is likely to rise 17% on year to 800,000 tonne in 2017-18, as the country started using conventional seeds again. The higher instances of pink bollworm pest attacks in some regions in India despite the use of the BT cotton seed variety has raised questions over the use of the genetically modified seed. BT cotton seed is used widely in India to guard against pink bollworm pest attacks.
ICE cotton down on profit booking post 3-year-high.
July cotton futures on the ICE fell because traders booked profits after the contract hit a three-year-high of 87.18 cents a pound on previous close. The most-active July contract of cotton on the ICE was at 84.54 cents a pound, down 0.9% from previous close. Prices of cotton on the ICE rose because of higher demand for the crop from the US, a heavy build-up in net long positions in cotton contracts.