India to wheat start exporting to Afghanistan via Chabahar port within two Weeks.
Sugar Extends Losses on Strong Brazil Harvest Prospects.
Sugar futures declined, extending losses for a crop that has been weighed down by abundant harvest prospects in Brazil. Raw sugar for October delivery declined 2.9% to settle at 13.24 cents a pound, extending its losses to the eighth consecutive session on the ICE Futures U.S. exchange. The market expected record 50.69 million tons of cane was crushed in the second half of July in central-south Brazil, up 2.6% on the year. Sugar is being pressured because the harvest has been going full-speed for two months, which is the longest stretch of dry weather in at least four years.
Wheat world ending stocks increased 4.09 MMT to 264.69 MMT for 2017/18.
Wheat world ending stocks increased 4.09 MMT to 264.69 MMT for 2017/18.
NAFED procures 59,700 tonne of 2016-17 chana from 4 states.
The National Agricultural Cooperative Marketing Federation of India has bought over 59,700 tonne of chana from the 2016-17 (Jul-Jun) rabi crop as of Monday from farmers of Madhya Pradesh, Uttar Pradesh, Rajasthan, and Haryana under the price stabilisation fund. The agency has procured 14,213 tonne of the pulse from 25 centres set up in Madhya Pradesh, 1,144 tonne from two centres in Uttar Pradesh, and the rest from the Adampur centre in Haryana. The maximum amount of 20,560 tonne was procured in Rajasthan Bikaner district. Pace of procurement is slow in Uttar Pradesh and Haryana due to rains in the ongoing monsoon season.
US corn 2017/18 ending stocks 2.273 bbu, down by 52 mbu from last month.
US corn 2017/18 ending stocks 2.273 bbu, down by 52 mbu from last month.
NCDEX raises transaction fee for chana contracts effective Aug 16.
The National Commodity and Derivatives Exchange Ltd increased the transaction fee on futures contracts of chana to 4 rupees per 100,000 rupees of turnover for an average daily turnover of up to 250 million rupees. The new transaction fee will be effective from Aug 16. Earlier, transaction fee for chana contracts were flat 2 rupees per 100,000 rupees.
USDA hikes estimate for 2017/18 wheat imports.
USDA hikes estimate for 2017/18 wheat imports.
Tur down in Akola on low buying by dal millers.
Prices of tur at Akola in Maharashtra were down because of a weak demand from dal millers. Arrivals of tur in Akola were unchanged.
Andhra rice to tackle crisis in Kerala.
Andhra rice to tackle crisis in Kerala.
Malaysia CPO up on weak ringgit, gains in CBOT soy.
Futures contracts of crude palm oil traded higher on the Bursa Malaysia Derivatives because of weakness in the ringgit against the dollar and gains in the soyoil contracts on the CBOT. The most-active October palm oil contract was at 2,640 ringgits (39,259 rupees) per tonne, up 11 ringgits from the previous close, while the most-active September soyoil contract on CBOT was up 0.3% at 33.98 cents per pound. Soybean futures on the CBOT are trading firm over the last few days amid concerns over forecast of drier weather in the US Midwest just when the plants are in crucial pod-setting stage.
Indonesia to Export Rice to Pacific Ocean Countries.
Indonesia to Export Rice to Pacific Ocean Countries.
CBOT soybean up on dry weather conditions in the US.
Futures contracts of soybean were marginally up on CBOT due to dry weather conditions in some parts of Illinois and Iowa, the largest soybean producing states in the US Midwest. The good-to-excellent rating for the oilseed in the two states has declined in the last week. The most-active November contract on CBOT was at $9.7575 per bushel, up 0.3% from the previous close.
South Korea buys 77,222 MT of rice for Sept-Nov arrival.
South Korea buys 77,222 MT of rice for Sept-Nov arrival.
Indore soybean prices a tad up on low acreage
Soybean prices rose marginally in the benchmark market of Indore in Madhya Pradesh due to slow progress of sowing in the state. Poor rainfall in the state so far in the southwest monsoon season has hit sowing operations and pulled down the area sown under soybean. Area under soybean has also declined as some farmers in the state have switched to cotton for better returns.
NCDEX coriander hits 9-week low on subdued demand.
NCDEX coriander hits 9-week low on subdued demand.
NCDEX Mustard seed futures add to gains; up Rs 5/a qtl.
NCDEX Mustard seed prices edged further higher by Rs 5 in futures trading as speculators indulged in raising their bets on the back of strong sentiment at the spot markets. Widening of positions by players, tracking a firm trend at the spot markets on increased offtake by oil mills mainly kept mustard seed prices higher.
Short positions rise as cotton oilcake at 32-month low.
Short positions rise as cotton oilcake at 32-month low.
India in no hurry to grow GM food crops.
The government is in no hurry to introduce genetically modified food crops in the country, three months after the sector regulator gave its nod to commercialization of GM mustard, because of widespread opposition from different quarters. The government has decided to examine all objections raised by scientists and farmers before taking a decision on genetically engineered (GE) mustard. Pursuant to recommendation of GE mustard by GEAC (Genetic Engineering Appraisal Committee), several representations and concerns have been raised by a wide range of stakeholders including scientists, policymakers, farmers and NGOs. The issues raised are manifold, like long-term health and environmental impact, herbicide tolerance, loss to honey bees and pollinators, outperformance of native varieties, no enhancement in yields, etc. All these issues are under examination.
October MCX cotton hits 1-week high on crop damage fears.
October MCX cotton hits 1-week high on crop damage fears.
India sugar prices stable in key spot markets; outlook bearish.
Prices of sugar were largely unchanged in the key wholesale markets of the country due to lacklustre trade. Thin trade in the market can be attributed to the fear of government action to ensure enough supplies in the domestic market. The government is likely to allow import of 300,000-500,000 tonne sugar at zero duty to augment supply during the upcoming festival season.