The country was looking to import 250,000 tonne of rice from Vietnam. Rice output in Philippine is seen higher because of favourable conditions and no infestation so far. Philippine is among the largest importers of rice, buying mostly from neighbours Thailand and Vietnam.
NCDEX wheat fall as supply seen rising in spot.
Futures contracts of wheat fell on the National Commodity and Derivatives Exchange today due to expectation of a rise in supply in coming days. Arrivals of wheat usually peak in April when crop is harvested in most states. In Indore, about 40,000 bags (1bag=100kg) of wheat arrived and in Kota market, arrivals were at 60,000-70,000 bags.
Western Canadian wheat bids seen softening.
Spring wheat bids in Western Canada were lower during the week ended March 24, as favourable weather in the U.S. Plains and large world supplies weighed on the market. Average Canada Western Red Spring wheat prices were down $4-$5 per tonne across the Prairie provinces. Average durum prices were mostly lower, with bids in southern Alberta, up by 25 cents, being the lone exception. Bids in Saskatchewan were steady to down $2 per tonne, to range from $260 to $263.
Russia to cut wheat prices for replenishing state stocks.
Russia Agriculture Ministry has proposed cutting wheat prices for its restocking programme in the 2017/18 marketing year which starts on July1, signalling stronger competition in the domestic market. The ministry has 4 million tonnes of grains in state stocks, buys grain on the domestic market every year as interventions. it would offer 10,300 roubles ($183) for a tonne of third-class wheat in the domestic market during the 2017/18 year, compared with 10,900 roubles in the current programme. Domestic price has been declining in and expected to come under further pressure due partly to a Russian dispute with Turkey over agricultural trade and to the need for Russian farmers to offload their stock before the new crop hits the market in the summer.
ITC buys 15,000 tn wheat in Kota over 15 days.
Fast moving consumer goods major ITC Ltd has purchased 15,000 tonne new wheat crop from Kota market. StarAgri, an agricultural marketing company has also been buying 2,000-3,000 tonne of wheat from Kota every day. Many other trading houses are buying the commodity since the start of new crop arrivals to build up their stocks. About 70,000 bags (1bag=100kg) of wheat arrive in the Kota market in Rajasthan daily. Supplies are yet to peak and may cross 100,000 bags in next 15 days.
Japan seek to buy 200,000 tonnes barley via tender.
Japan seek to buy 200,000 tonnes barley via tender.
Barley down in Jaipur on low demand, rise in arrivals.
Barley down in Jaipur on low demand, rise in arrivals.
Wheat up in spot market post import duty.
Wheat up in spot market post import duty.
CBOT wheat prices were pressured by weather factor.
CBOT wheat prices were pressured by weather factor.
Japan seeks to buy 120,000 tonne feed wheat via tender.
Japan seeks to buy 120,000 tonne feed wheat via tender.
Wheat Tax Would not stopped Imports to Southern India, said Millers.
Wheat Tax Would not stopped Imports to Southern India, said Millers.
ICRA sees India FY17 basmati exports largely unchanged at 4 million tonnes.
ICRA sees India FY17 basmati exports largely unchanged at 4 million tonnes.
Dairy body buys 4,500 tn de-oiled rice bran.
Dairy body buys 4,500 tn de-oiled rice bran.
Jan-Mar recovery may lift India FY17 non-basmati rice exports 3-5%.
Jan-Mar recovery may lift India FY17 non-basmati rice exports 3-5%.
Philippine farm minister says likely no need to import 250,000 T of rice.
Philippine farm minister says likely no need to import 250,000 T of rice.
Rice basmati edges up due to increase in demand.
Rice basmati edges up due to increase in demand.
Japan seek to buy 200,000 tonnes barley via tender.
Japan Ministry of Agriculture said it would buy 200,000 tonnes of feed barley to be loaded by July31 and arrive in Japan by Sept. 29, via a simultaneous buy and sell auction that will be held on April5. The tender is usually conducted weekly, but the ministry skipped the tender this week due to an adjustment at the end of the fiscal year that will end on March31. Japan buys and sells its barley via simultaneous buy and sell auction, in which end-users and importers specify the origin, price and quantity of grain, allowing millers to meet their varied needs for the feed grain.
Barley down in Jaipur on low demand, rise in arrivals.
Prices of barley fell down in Jaipur because of less demand from the malt industry, feed sector and stockists. Arrivals of the new crop were pegged at 180,000 bags (1bag=85kg) compared with 170,000 bags. On the NCDEX, the most-active April contract of barley traded down nearly 0.2%.
Wheat up in spot market post import duty.
Prices of wheat rise in major wholesale markets of the country after the govt levied 10% customs duty on import of wheat. Demand from bulk buyers was higher as the duty is expected to restrict imports, which will affect supply in the domestic market. The impact is likely to be offset by high arrivals of the new crop. In Kota, about 70,000 bags (1bag=100kg) arrive every day and supplies are likely to cross 100,000 bags in the next 15 days. Wheat prices also rise in Delhi. Prices remained unchanged in Indore market as arrivals were high and traders do not expect the import duty to have an immediate impact on supplies.
CBOT wheat prices were pressured by weather factor.
CBOT wheat prices declined (-3.44%). In the spot market, the supply price for US wheat (April delivery) lost USD 6. Despite the information on winter wheat conditions worsening in the largest producing states of the USA–Oklahoma and Kansas, the wheat futures continued to go down. The prices were pressured by a weather factor–a rain forecast in the regions of winter wheat production in the USA, which will refill soil moisture reserves.