Wheat arrivals rise sharply in the benchmark market of Indore as farmers refrained from selling high quality produce to the govt. Around 25,000 bags (1bag=100kg) of the new crop arrived in Indore sharply up from 12,000-14,000 bags. Fresh crop arrivals rose as farmers brought quality crops to the market instead of selling it to the govt at a much lower MSP.
U.S wheat fall to multi-week low.
U.S. wheat futures dropped to their lowest level in more than six weeks and their second straight day of declines as weather forecasts bolstered expectations for strong yields adding to already high supplies in the coming weeks. Good rains expected to build across much of the winter wheat belt over the next 10 days. CBOT May soft red winter wheat settled down 3-3/4 cents. Weather for U.S. winter crop is expected to improve and there is more downside for wheat prices.
Japan offers to buy 117,689 tonnes food wheat via tender.
Japan is seeking to buy a total of 117,689 tonnes of food quality wheat from the United States, Canada and Australia in a regular tender that will close late on March23. Japan keeps a tight grip on imports of the country most important staple after rice and buys the majority of the grain for milling via tenders typically issued three times a month. (Source: Reuters)
Police seize 8 quintals of illegally stocked rice for PDS Karimnagar(Telangana).
Eight quintals of rice meant for Public Distribution System which was stocked illegally, has been seized by police in a vehicle.
Farmers advised against distress sale of paddy in Kothagudem (Telangana).
Paddy farmers of establishing purchase centres within their reach and advised them against making a distress sale of paddy to the middlemen and reviewing arrangements for lifting paddy with officials of Civil Supplies department, rice millers, market committee secretaries. Civil Supplies officials to equip the paddy purchase centres with instruments that measure moisture content in paddy, scales. Rice millers to mill the paddy and supply fine rice to the social welfare hostels and government schools and 45 paddy purchase centres were being established in the district.
NCDEX coriander at 3% upper limit and rain may hit crop.
NCDEX coriander at 3% upper limit and rain may hit crop.
NCDEX barley up 1% tracking rise in spot market.
NCDEX barley up 1% tracking rise in spot market.
Saudi confirms purchase of 25 cargoes of feed barley.
Saudi confirms purchase of 25 cargoes of feed barley.
Prices of wheat fall in Indore on higher arrivals.
Prices of wheat fall in Indore on higher arrivals.
Govt wheat procurement picks up about 72,955 tonnes bought.
Govt wheat procurement picks up about 72,955 tonnes bought.
Turkish buyers put Russia wheat deals on hold, despite denial of ban.
Turkish buyers put Russia wheat deals on hold, despite denial of ban.
New Punjab govt cancels all tenders issued during Badal regime for wheat procurement
New Punjab govt cancels all tenders issued during Badal regime for wheat procurement
Rice export behind target, to focus on quality in Myanmar.
Rice export behind target, to focus on quality in Myanmar.
Dairy body to buy 150 tonnes de-oiled rice bran.
Dairy body to buy 150 tonnes de-oiled rice bran.
NCDEX coriander at 3% upper limit and rain may hit crop.
Futures contracts of coriander on the NCDEX extended gains from Friday and hit the 3% upper circuit as untimely rainfall in the last two days in Rajasthan is likely to affect quality of the standing crop. The most-active April contract of coriander traded on the NCDEX, up 3%. Likely decline in coriander output in 2016-17 (Oct-Sep) is also seen contributing to the rise in prices. Arrivals of coriander in Kota were unchanged at 10,000 bags (1bag=40kg).
NCDEX barley up 1% tracking rise in spot market.
Futures contract of barley on the NCDEX were up 1% taking cues from the key spot market in Jaipur. The most-active April contract of barley on the NCDEX was 1%. Prices of barley rise in Jaipur on expectations of a rise in demand from malt industries due to onset of summer season. Arrivals of the new crop were estimated at 10,000 bags (1bag=85kg) compared with 15,000 bags. Lower arrivals, coupled with the rising demand from feed sector also supported barley prices.
Saudi confirms purchase of 25 cargoes of feed barley.
Saudi Arabia completed negotiations with suppliers overnight for its tender to buy barley. The buying agency announced it had purchased just over 1.5 million tonnes of feed barley. And the contracts will specify optional origin- South America, EU, Black Sea and Australia. Australia shipment volume of barley in the 2016-17 marketing year was added by competitive pricing and reduced current year exports from EU, Argentina and Black Sea origins.
Prices of wheat fall in Indore on higher arrivals.
Prices of wheat fell in the benchmark market of Indore because of higher supply in markets. The poor-quality wheat, with high moisture content, traded at lower than the MSP. Around 14,000-15,000 bags (1bag=100kg) arrived in Indore up 2,000-3,000 bags from previous day. Govt procurement has started, but farmers are not selling the good quality crop to the government, as they can sell the same produce at a higher price in markets. FCI has procured about 65,112 tonnes of wheat in Indore.
Govt wheat procurement picks up about 72,955 tonnes bought.
FCI has procured 72,955 tonnes of wheat from farmers in Madhya Pradesh, Gujarat, and Rajasthan. Procurement is highest in Madhya Pradesh at about 65,112 tonnes. Wheat purchase at Bhopal and Narmadapuram division of Madhya Pradesh started on March21. FCI aims to buy 8.5 million tonnes of wheat in Madhya Pradesh in 2017-18(Apr-Mar), compared with 4.0 million tonnes bought a year ago. In Gujarat, about 7,837 tonnes of wheat has been purchased from 5 procurement centres so far. Govt procurement in other states is likely to begin from April1. Centre has set a target of procuring 33 million tonnes of the food grain in 2017-18, up from 22.9 million tonnes purchased in the previous season.
Turkish buyers put Russia wheat deals on hold, despite denial of ban.
Turkish buyers have put purchases of Russian agricultural products-mainly wheat, maize and sunflower oil on hold, despite denials from Ankara that it has effectively banned imports from Moscow. Import licenses issued by the Turkish govt no longer included Russia in a list of accepted tax-free origins and suggesting an import tariff of 130% could be applied to supplies from Russia.