WheatProcurementof nearly 195 lakh tonnes has been made in FoodGrain StatesPunjaband Haryanathis season. In Punjab, the WheatProcurementwas nearly 116 lakh tonnes till April 30 (Monday) as compared to 110.24 tonnes procured in the same period last year. Over 115.23 lakh tonnes (99.6 percent) has been procured by government agencies. In Haryana, over 79 lakh tonnes of Wheathas been procured so far this season.
Asia grains-Indonesian mill buys 60000 tn of black sea wheat for aug shipment.
A flour mill in Indonesia last week bought up to 60,000 tonnes of wheat from the Black Sea region for August shipment. The deal was signed at around $220-$222 a tonne, including cost and freight (C&F).
Egypt’s local wheat buying surges in first two weeks of harvest
Egypt, the world’s largest wheat importer, has so far bought 1.4 million tonnes of the grain from farmers in its harvest, procuring more than a third of its target in the first two weeks. The government is looking to buy about 4 million tonnes of wheat from farmers this harvest, which ends in July. Egypt expects to buy an additional 7 million tonnes of the grain from abroad during the 2018-19 financial year that begins in July. It uses the wheat to supply a sprawling bread subsidy system relied on by tens of millions of people.
Dairy body to buy 3,000 tn de-oiled rice bran.
The National Cooperative Dairy Federation of India will buy 3,000 tn of de-oiled rice bran and 1,000 tn of maize through an e-auction on May 9. The commodities will be bought on behalf of The Erode District Cooperative Milk Producers’ Union Ltd. The National Cooperative Dairy Federation, which has about 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.
Mustard seed at 2-wk low in Jaipur on high arrivals
Prices of mustard seed hit a two-week low in Jaipur, Rajasthan, due to a rise in arrivals amid lacklustre demand from domestic oil millers and stockists. Prices of mustard seed hit a two-week low in Jaipur, Rajasthan, due to a rise in arrivals amid lacklustre demand from domestic oil millers and stockists.
NCDEX soybean down around 1% on low demand for meal
Soybean contracts on NCDEX fell about 1% because of lower export demand for soymeal. The most-active May contract was down 0.8%.
Rising Mato Grosso soybean farm prices may accelerate forward sale
A deprecating currency and firmer premiums have pushed soybean farm prices in Mato Grosso above the total cost of production, which may see a further increase in forward selling.
Cargill resumes operations at two crushing facilities in Argentina
Agribusiness major Cargill resumed normal operations at two of its grain crushing plants in Argentina after suspending operations on April 20 as oilseed crushing workers undertook a series of strike actions.
Soybean futures saw weakness into the close, with the nearby contracts 7 to 7 3/4 cents lower.
Soybean futures saw weakness into the close, with the nearby contracts 7 to 7 3/4 cents lower. Soy meal was down $1.10/ton, with front month soy oil 8 points in the red. The USDA reported a private export sale of 120,000 MT of soybeans for 18/19 to Argentina. Soybean export inspections during the week of 4/26 totaled 679,379 MT. That was 43.83% larger than the week prior and 22.53% above the same week last year. This afternoon’s Crop Progress report indicated that the US soybean crop was 5% planted on Sunday. That is even with the average but 4% lower than this time last year.
Punjab 2018-19 rice crop aim 11.6 MMT, down 13% on lower acreage.
Punjab 2018-19 rice crop aim 11.6 MMT, down 13% on lower acreage.
FAO says avg Jan-Apr export price of Indian non-basmati rice up 12%.
FAO says avg Jan-Apr export price of Indian non-basmati rice up 12%.
India rabi paddy procurement from May 1.
India rabi paddy procurement from May 1.
Punjab, Haryana need to look beyond paddy.
Punjab, Haryana need to look beyond paddy.
Cargill to open $ 10 Mln corn bulk storage facility in India.
Cargill to open $ 10 Mln corn bulk storage facility in India.
Cargill to open Davangere corn silo in May.
Cargill to open Davangere corn silo in May.
Wheat procurement in Haryana crosses 7.9 MMT.
Wheat procurement in Haryana crosses 7.9 MMT.
Punjab govt to compensate for damage to wheat on 793 acres.
Punjab govt to compensate for damage to wheat on 793 acres.
Pakistan cleared 500,000 tonne subsidised wheat export quota.
Pakistan cleared 500,000 tonne subsidised wheat export quota.
Madhya Pradesh may miss its wheat buy aim, can end near 7 MMT.
Madhya Pradesh may miss its wheat buy aim, can end near 7 MMT.
Mustard oil softens on subdued local demand
In restricted activities, mustard oil prices drifted lower by Rs 50 per quintal owing to sluggish local demand. However, other edible and non-edible oils moved in a narrow range in scattered deals and settled around overnight levels. Sluggish local demand against ample stocks position, mainly weighed on mustard oil prices.